Vitol to acquire the additional 66.84% stake in WPU for $47m.

Vitol, an energy and commodities company, agreed to acquire the additional 66.84% stake in WPU, a company that upcycles end-of-life plastic waste to oil, for $47m. “Plastic waste is a global problem with some 4001m tonnes of plastic waste produced each year. At the same time, demand for plastics worldwide continues to grow and will continue, even after demand for other oil products, such as gasoline and gasoil begins to fall," Tom Baker, Vitol Head of Naphtha.