Global energy and commodity trading firm Vitol has been honored with the Deal of the Year award at the African Energy Week (AEW): Invest in African Energies 2025 conference. The award recognizes Vitol’s bold expansion strategy across West and Central Africa, with the company celebrated for its strategic stakes in Baleine and Congo LNG, thereby enhancing low-carbon upstream exposure and strengthening Africa’s gas position.

In September 2025, Vitol finalized the acquisition of a 30% stake in Ivory Coast’s Baleine offshore field – the largest hydrocarbon discovery in the country – signaling its expansion across the West African oil and gas sector. The Baleine field, discovered by energy major Eni in 2021, began production in 2023 and ramped up output with Phase 2 coming online in December 2024. Following the transaction, Eni retains 47.25% as operator, with Vitol holding 30% and national oil company Petroci 22.75%.

With current production at 62,000 barrels of oil and 75 million cubic feet of gas per day, the partners are now considering Phase 3, which could boost production to 150,000 barrels of oil and 200 million cubic feet of gas per day. The project cements Ivory Coast’s status as a regional energy hub and reflects Vitol’s broader strategy of aligning investments with national development priorities.

In March 2025, Vitol deepened its partnership with Eni through the acquisition of a 25% stake in the Congo LNG project. The project, which began exports in February 2024, established the Republic of Congo as a new LNG-exporting nation. It currently produces 1 billion cubic meters of LNG per year, with a second expansion phase expected by the end of 2025 to increase annual capacity to 4.5 billion cubic meters. The project utilizes the Tango FLNG floating liquefaction facility and the Excalibur FSU storage unit to enable offshore gas processing and delivery.

“Vitol’s investments in the Congo LNG and Baleine projects reflect a strategic commitment to Africa’s next phase of energy growth. Their ability to align commercial strategy with national priorities makes them a critical partner in Africa’s journey toward energy security and export competitiveness,” states NJ Ayuk, Executive Chairman, African Energy Chamber.

Through strategic partnerships, LNG expansion and market integration, Vitol continues to reinforce its position as one of Africa’s most dynamic private energy players, driving both resource monetization and long-term development.