Global InformationVitol information
 | |
| Company type | Private |
|---|---|
| Industry |
|
| Founded | 1966 Rotterdam, Netherlands[1] |
| Founder | Henk Viëtor[1][2] Jacques Detiger[1][2] |
| Headquarters | Geneva, Switzerland; Rotterdam, Netherlands [3] |
Number of locations |  40 |
Area served | Worldwide |
Key people |
|
| Services |
|
| Revenue |  US$404 billion (2023)[5] |
Net income | US$13 billion (2023)[6] |
| Owner | Vitol Holding II S.A. |
Number of employees | 1,600+ [7] |
| Website | vitol |
Vitol is a Swiss-based Dutch multinational energy and commodity trading company that was founded in Rotterdam in 1966 by Henk Viëtor and Jacques Detiger.[1][2] Though trading, logistics and distribution are at the core of its business, these are notably complemented by refining, shipping, terminals, exploration and production, power generation, and retail businesses. Vitol has over 40 offices worldwide, with its largest operations in Geneva, Houston, London, and Singapore.[8]
With revenues of $505 billion in 2022,[9] Vitol is the largest independent energy trader in the world, and would be the second-largest company worldwide as measured by revenue on the Fortune Global 500 list.[10] Given the secrecy Vitol maintains around all its business activities and the limited nature of its statutory disclosures,[11] it is excluded from rankings. The company, however, does provide some more financial information to its lenders and to a few other entities with which it trades.[12] The company ships more than 350 million tonnes of crude oil per year and controls 250 supertankers and other vessels to move it around the world. On average it handles more than 7.6 million barrels a day of oil and products, [9] roughly equivalent to the daily consumption of Japan, the world's fourth-largest oil consumer after the United States, China, and India.[13][14]
Vitol is a privately held company by about 400 partners who are current and former employees,[15] who are known for their intense culture of privacy and secrecy from both competitors and the general public.[16] It is reported that Vitol made a payout of $2.9 billion to all its partners in 2021[17][18]
- ^ a b c d "Meet The Mysterious Trading Firms Who Control The Price Of Commodities". BusinessNews. 2011-10-31. Archived from the original on 2012-04-27. Retrieved 2012-03-04.
- ^ a b c Schneyer, Joshua (2011-10-28). "Commodity Traders: The trillion dollar club". Reuters. Archived from the original on 2015-12-28. Retrieved 2012-04-11.
- ^ "Top ten global oil and commodities traders". April 15, 2011. Archived from the original on November 13, 2019. Retrieved May 21, 2019 – via www.telegraph.co.uk.
- ^ Hoffman, Andy and Blas, Javier. "Top Trader Vitol Has New CEO as Taylor Becomes Chairman" Archived 2019-07-28 at the Wayback Machine, Bloomberg, 15 March 2018. Retrieved on 16 March 2018.
- ^ "Archived copy". Archived from the original on 2024-03-26. Retrieved 2024-03-26.
{{cite web}}: CS1 maint: archived copy as title (link) - ^ "Archived copy". Archived from the original on 2024-04-08. Retrieved 2024-04-08.
{{cite web}}: CS1 maint: archived copy as title (link) - ^ "Where we work". Vitol. Archived from the original on 2019-03-25. Retrieved 2020-01-03.
- ^ "Operating globally". Vitol. Archived from the original on 2022-11-25. Retrieved 2022-11-25.
- ^ a b McNair, Ros (2022-03-21). "Vitol 2021 volumes and review". Vitol. Archived from the original on 2022-12-01. Retrieved 2022-11-24.
- ^ "Global 500". Fortune. Archived from the original on 2022-03-07. Retrieved 2022-11-24.
- ^ Blas, Javier (23 April 2012). "Oil traders face heat over disclosure". Financial Times. Archived from the original on 26 November 2022. Retrieved 26 November 2022.
- ^ Blas, Javier (19 March 2015). "Vitol Said to Post Highest Profit Since 2011 as Oil Prices Swing". Bloomberg. Archived from the original on 28 July 2019. Retrieved 18 October 2015.
- ^ Schneyer, Joshua (28 October 2011). "Corrected: Commodity Traders: The trillion dollar club". Reuters. Archived from the original on 28 December 2015. Retrieved 28 October 2011.
- ^ Hume, Neil (19 March 2015). "Oil trader Vitol's profits rebound to $1.35bn". Financial Times. Archived from the original on 13 September 2016. Retrieved 16 October 2015.
- ^ "Oil trader Vitol hands top staff equivalent of $7m each". Financial Times. 2021-07-23. Archived from the original on 2022-11-24. Retrieved 2022-11-24.
- ^ O'Keefe, Brian. "The unseen hand that moves the world's oil". Fortune. Archived from the original on 24 February 2015. Retrieved 28 February 2013.
- ^ "Oil Giant Vitol Hands Record $2.9 billion Payout to Its Traders". Bloomberg.com. 2021-07-23. Archived from the original on 2022-03-18. Retrieved 2022-11-24.
- ^ "Oil trader Vitol hands top staff equivalent of $7m each". Financial Times. 2021-07-23. Archived from the original on 2022-11-24. Retrieved 2022-11-26.