Oil trader Trafigura and Latin America-focused upstream player Vista Oil & Gas have agreed to jointly invest around $250 million in the Vaca Muerta Shale play in Argentina. The deal shows that after reaping bumper profits last year, oil trading companies are targeting their own sources of production around the world. Singapore-based Trafigura started the trend at the end of last year when it signed a €7 billion ($8.3 billion) deal with Russia's Rosneft to acquire a 10% stake in the Vostok Oil venture.
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