Overview

• The global trader is participating in a formal auction for Raízen Argentina, which spans the Dock Sud refinery and roughly 700 Shell service stations.
• Reports cite a US$1–1.5 billion valuation range for the package, with BTG Pactual coordinating the process and no agreement announced.
• Vitol already runs a storage terminal in Zárate through Vitco and has local corporate approvals that allow fuel retail operations.
• Trafigura and Glencore were previously flagged as potential buyers, and Brazilian outlet Valor says the sale has advanced to a second stage.
• The review follows leverage concerns at Cosan and a reported R$1.8 billion quarterly loss at Raízen, while speculation about Vitol lifted both companies’ shares in São Paulo.