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The upgraded radar-based oil spill detection solution will be installed on the Inspirer jack-up rig located on the Yme oil field in the Central North Sea.

Vissim will develop an expanded digital platform for a future oil spill monitoring and detection system on the NCS.

The oil spill detection system is cloud-based and 'complies with the highest IT security standards'.

The acquisition increases Vital Energy's working interest in 54 producing, low-decline wells by an average of 67 percent.

Vital hit a record output but held back on oil sales due to lower prices.

Vital expects the new assets to add 35,000 boepd to production capacity.

The transactions will result in approximately $50 million of acquisition and related development capital expenditures.

Vitol doubled the amount its staff earned last year as it notched up record profit of $15.1 billion.

Vitol will supply GAIL (India) Limited with approximately one million metric tons of liquefied natural gas (LNG) per annum for 10 years beginning in 2026.

For Vitol, a successful bid for Citgo would represent the latest in a series of investments in refining and distribution.