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Noble to sell global oil liquids business for $1.9 bil; expects 3Q net loss of US$1.1-1.25 bil

PC Lee Published on Mon, Oct 23, 2017 / 8:01 AM GMT+8

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SINGAPORE (Oct 23): Noble Group has agreed to sell its global oil liquids business in subsidiary Noble Americas Corp (NAC) to Vitol US Holding Co.

The struggling commodity trader also plans to wind down selected working capital balances within UK subsidiary Noble Clean Fuels.

The actions announced by Noble this morning were part of its ongoing strategic review to pare debt of more than US$3 billion and win support from lenders.

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Noble to sell global oil liquids business for $1.9 bil; expects 3Q net loss of US$1.1-1.25 bil