Investments
Good investments have made a significant contribution to the success of Vitol, and we are always looking for further opportunities that will complement and enhance our core business.
Our involvement in the North Atlantic Refinery in 2006 has been replaced by recent investments in simple processing capacity in Fujairah and an LPG splitter in Nigeria. We are also channelling the knowledge we gained from the North Atlantic Refinery venture into improving performance and adding value to these assets, by combining them with the strengths of Vitol’s global network.
On the water, we have taken some early steps into vessel ownership to augment our extensive time charter fleet. In particular, we have invested in bunker delivery vessels. We see this as opening new markets for Vitol, while minimising operational risks, by using new and specifically modified vessels for a market that shows potential for growth, but which lacks suitable vessels.
We will continue to look at vessel ownership in the future, albeit within tightly drawn management and control structures.
