Vitol
oil trader
| Vitol () | |
|---|---|
| Oil traders Vitol and Trafigura are licensed by the US to export Venezuelan oil |
Vitol is a Swiss-based Dutch multinational energy and commodity trading company that was founded in Rotterdam in 1966 by Henk Viëtor.
Vitol has over 40 offices worldwide, with its largest operations in Geneva, Houston, London, and Singapore.
World's largest
In April 2024, Vitol remained the world's largest independent commodity trader. It does not publicly release financial results, but in 2023, it reportedly made $13 billion in net profit, according to the Financial Times. It had made $15.1 billion in 2022, and $4 billion in 2021. In 2024, it had approximately 450 senior partners in London, Geneva, Singapore, and Houston. In 2022, it had shareholder equity of $25.8 billion.[1]
Licensed for Venezuela
In January 2026, Vitol secured one of the first two special licences issued by the United States to negotiate sales and to export oil from Venezuela. The company expected to begin its service with delivery of naphtha, used as a diluent, from the US to Venezuela, at mid-month.[2]
References
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