We were pleased to welcome ADNOC (the Abu Dhabi National Oil Company) as a shareholder of VTTI, the global storage and terminal operator founded by Vitol in 2006. Across the industry, other trading houses also reported strong profits in 2019. In this context, we were pleased to increase our delivered Liquefied Natural Gas (LNG) volumes by 35% to 10.5mt, as well as to enter into a number of long-term partnerships and cooperations in LNG, which we believe will provide the foundations for the next phase of this business line’s growth. 1. Norway Raises Concern Over Vaccine Jabs for the Elderly, Edmond de Rothschild Holding’s Chairman Dies at 57, Norway Warns of Vaccination Risks for Sick Patients Over 80, Inside Cyberpunk 2077's Disastrous Rollout, Los Angeles Covid Cases Top 1 Million as Outbreak Worsens. Our volumes of crude oil and products traded grew 8% to 8m b/d. Vitol neither admitted nor denied the findings in reaching settlement. Vitol is an energy and commodities company. Vitol is a Dutch energy and commodity trading company that was founded in Rotterdam in 1966 by Henk Viëtor and Jacques Detiger. As well as serving growing demand for LNG in Asia, this will complement our established gas and power trading businesses in Europe and the US, enabling us to provide seamless solutions to customers across those continents. Vitol has enjoyed strong profits in recent years, a trend that held in 2019 when net income matched the $2.3 billion record set in 2009, according to the accounts. If it was divided equally, the 2019 payout would be equivalent to more than $6 million per partner, an amount that compares favorably with compensation at leading investment banks. A Vitol spokesperson declined to comment. October 31, 2019. Led by Chief Executive Officer Russell Hardy, Vitol is the world’s largest independent oil trading house. Vitol 2019 volumes and review. We will navigate these unprecedented times as safely and sensibly as we can, with a determined focus on mitigating the risks to our people and our business. Vitol, Mercuria, Gunvor, Trafigura and the oil trading division of Glencore made a combined net profit of about US$3.2 billion in 2018 on the back of US$747 billion in revenues, compared with a combined profit of US$5 billion in 2015 on revenues of US$511 billion. Our market leading position is built upon long-term relationships, on our expertise, market understanding, focus on solutions and reputation for reliability. Other top executives have also taken a step back from day-to-day operations, including Mike Loya, who ran the Americas business from Houston and left the company earlier this year, and David Fransen, who was head of the Geneva office. Performance Indicators 1 "In … Before it's here, it's on the Bloomberg Terminal. In July 2019, following the completion of Enforcement Staff’s investigation, FERC issued an order directing Vitol and Corteggiano to show cause why they should not be assessed Enforcement Staff’s recommended civil penalties of $6 million and $800,000 respectively, and directing Vitol to show cause why it should not disgorge $1,227,143 in unjust profits. 1 Vitol Investment Partnership II, an investment vehicle sponsored and managed by Vitol. Vitol continues to seek investment opportunities that complement its core trading business, as well as provide a solid return. Based on the price-to-earnings ratios of its publicly traded peers, Vitol could be worth more than $25 billion. For over 50 years we have used our networks and infrastructure to manage the flow of energy around the world, efficiently and responsibly. Tuesday, 19 March, 2019 Vitol warns oil demand to peak within 15 years Forecast comes after tripling of second-half profit at world’s biggest independent energy trader 27 Mar 2020. Vitol also admitted to a second conspiracy to bribe officials in Ecuador and Mexico in order to obtain and retain business in connection with the purchase and sale of oil products. Every year we charter 7,000 journeys, giving us a unique insight into shipping flows and trends. Have a confidential tip for our reporters? In the 12 months to December, Vitol reported a net profit after tax of $1.35bn, said people familiar with the privately owned company, the most since 2011 when net income reached $1.7bn. Our downstream network, which comprises circa 7,000 service stations across five continents, continues to grow steadily. Shell alone trades the equivalent of 13 million barrels a day of oil, dwarfing the nearly 7.5 million barrels a day at Vitol. Hin Leong posted net profit of $78 million against total liabilities and equity of $4.56 billion for the period ended October 31, 2019. Last year, Vitol and Eni, together with other local partners, drilled Block 4 offshore Ghana and discovered gross volume ranges which could be in excess of 550BCF gas and 18m barrels of condensate2. The company earlier this year said that it benefited from higher trading volumes and “relative tightness” in the oil market in 2019, which allowed for fatter margins. Net profit edged down to $867.8 million, the lowest since 2010, from $872.8 million in 2018. The Geneva-based firm’s gross profit was $3 billion in 2019, up from $2.4 billion. Vitol Group paid a record $2.2 billion to its executives and staff through share buybacks last year, an unusually large payout that comes as the oil trader undergoes a generational transition in leadership. Vitol, which is led by Russel Hardy as its Chief Executive Officer, has enjoyed strong profits in recent years, a trend that continued in 2019 when net income matched the $2.3 billion income record that was set in 2009. The buyback -- Vitol’s main way of rewarding about 350 top employees who own the privately-held company -- means the trading house has distributed a total of more than $14 billion in the past 15 years to its partners, according to the company’s audited annual accounts, seen by Bloomberg News. Mindful of the long-term shift in the energy mix, we are investing in renewables projects in Asia, Europe and the US, largely in solar and wind, and anticipate being invested in over a gigawatt of renewable power capacity in the next 36 months. The company failed to fully anticipate the deep drop in fuel demand caused by the coronavirus pandemic, a person familiar with the matter said said at the time. Additionally, we seek to ensure this risk is … Vitol has been trading oil and petroleum products for over 50 years. Whilst the immediate outlook remains unclear, it is certain that the provision of efficient energy solutions will be an important part of any recovery. The company earlier this year said that it benefited from higher trading volumes and “relative tightness” in … In the past, Vitol has said none of its top partners owned more than 5% as the company bought back enough shares from older partners to limit their holdings. Vitol decides to increase financial holding in Hascol . Vitol has enjoyed strong profits in recent years, a trend that held in 2019 when net income matched the $2.3 billion record set in 2009, according to the accounts. The company expects to achieve a “reasonable result” in 2020, according to the directors’ report on its full-year results. 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