16 Facts About Vitol

Vitol is a Dutch energy and commodity trading company that was founded in Rotterdam in 1966 by Henk Vietor and Jacques Detiger.

Vitol has 40 offices worldwide and its largest operations are in Geneva, Houston, London, and Singapore.

Vitol does provide financial information to its lenders and some energy groups with which it trades.

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 total, Vitol has around 16 million cubic meters of storage capacity across the globe.

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In January 2012 Vitol acquired a stake in a subsidiary of the South African shipping firm Grindrod, which gives it access to a coal terminal in Mozambique.

Vitol has invested in refining assets in Bayernoil, Cressier, Antwerp and the Geelong refinery near Melbourne.

In 2018, Vitol bought the 85,000 barrel per day Rotterdam Condensate Splitter from Koch Industries.

Vitol Aviation is focused on Europe, North America and Africa, serving the world's largest airlines and military customers with 5.

In 2013 Vitol invested in its first power plant, VPI Immingham in the UK.

Vitol has denied all charges, arguing that no government agency has ever prosecuted the company in this respect.

In 2007, Vitol pleaded guilty to grand larceny in a New York court for paying surcharges to Iraq's national oil company during Saddam's regime and circumventing the UN oil-for-food program.

Vitol bought 2 million barrels using a ship-to-ship transfer off the coast of Malaysia from a National Iranian Tanker Company vessel and sold it to Chinese traders.

The article stated that as Vitol is based in Switzerland, which did not implement Western sanctions, Vitol had skirted the charges.

Vitol appealed this decision, but the French Council of State confirmed the sanction in June 2021.

In 2020, Vitol Inc agreed to pay a combined total criminal penalty of $135 million to resolve bribery charges with law enforcement authorities in the United States and Brazil.