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.

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

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

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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.

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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.

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

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

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

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

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

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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.

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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.

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

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

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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.

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