The Vitol Group
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| Private | |
| Industry | Commodity |
| Founded | 1966 Rotterdam, Netherlands |
| Founder | Henk Viëtor Jacques Detiger |
| Headquarters | Geneva, Switzerland |
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Area served
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Global |
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Key people
|
Ian Taylor, CEO |
| Services | Energy trading, Commodity trading |
| Revenue |
 US$ 152 billion (2016) |
| Owner | Vitol Holding B.V |
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Number of employees
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5,441 (2014) |
| Website | www |
The Vitol Group is a global energy and commodity trading company that was founded in Rotterdam in 1966 by Henk Viëtor and Jacques Detiger. Though physical trading, logistics and distribution are at the core of the business, these are complemented by refining, shipping, terminals, exploration and production, power generation, mining and retail businesses. Vitol has 40 offices worldwide and its largest operations are in Geneva, Houston, London, and Singapore. With revenues of $152 billion in 2016, it is the largest independent energy trader in the world, and would rank eighth on the Fortune Global 500 list. Because Vitol does not publish its profits widely, much like most of its competitors in commodity trading, it is largely excluded from rankings. But the company does provide financial information to its lenders and some energy groups with which it trades. 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 million barrels a day of oil and products - roughly equivalent to the daily consumption of Japan - the world's third largest oil consumer after the United States and China.
The company’s chief executive is Ian Taylor. Vitol is a private company which is owned significantly by a proportion of its employees, who are known for their culture of privacy and secrecy, from both competitors and the general public. In March 2015, the FT suggested that Vitol appeared to make a $1.2 billion dividend distribution.
In addition to the global crude and product trading businesses, the company trades coal, natural gas, power, ethanol, methanol, gasoline, LNG, LPG, naphtha, bitumen, base oils and carbon emissions.
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Wikipedia