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Global energy trader Vitol Group has set up a new U.S. venture to produce oil and gas called Vencer Energy, its first foray into the upstream business in the United States. Vitol, is the world’s biggest independent oil trader, involved in trading 8 million barrels per day of crude and refined products. Vitol already has some upstream oil operations, producing about 32,000 barrels per day, but none in the United States.
