Vitol Group, the world’s largest independent oil trader, plans to spend half of its $2-billion capital expenditure on renewables, the group’s chief executive Russel Hardy said at the Energy Intelligence Forum in London on Tuesday. “We’ve got a fair amount of capex going into the renewables and power business. Half of the company’s capex, which is $2 bln so about $1 bln, is going into renewable business,” Hardy said at the event, as carried by Reuters. Commenting on oil demand and oil prices at the forum, Hardy said that…

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