Vitol is a global energy and commodities company
As a leader in the energy sector our clients include national oil companies, multinationals, leading industrial companies and utilities. Serving customers from over 40 offices around the world, we trade and distribute energy safely and responsibly using our logistical expertise and infrastructure network.
Using our expertise and logistical capabilities to create and distribute energy solutions around the world, efficiently and responsibly.
Solving the energy challenges of the world today and investing in energy solutions for the future
Energy underpins the global economy. We work to meet the world’s energy needs today, and in the future. We focus on solutions through working with partners and customers.
Partnership
A long history of working in partnership with our global network of energy, industrial, governmental and other customers. We work collaboratively, deploying our expertise, infrastructure and balance sheet to build solutions.
Strength
With a strong, conservatively managed balance sheet, Vitol is able to participate actively in pre-financing and investment opportunities.
Expert
A world leader in energy with unique expertise and understanding of global and regional market dynamics.
Established
For over 55 years Vitol has served the world’s energy markets, distributing and delivering energy efficiently to growing economies worldwide.
Responsible
Vitol understands the risks associated with the physical movement of energy. It seeks to mitigate these risks and to manage all its assets responsible and safely.
They are a key differentiating factor that drives our ongoing success
Environment, Social & Governance
Vitol: 55 years in the making
Another decade of investment, with the acquisition of refinery and downstream assets worldwide. By the close of the 2010s, Vitol was invested in a downstream network comprising over 6,000 service stations, five refineries in three continents, 16 million cubic meters of storage and gas-fired power generation in the UK. Together with Eni, it had also developed significant oil and gas fields offshore Ghana.
The business continued to expand with turnover growing from $37 billion in 2000 to $144 billion in 2009. To facilitate its trading business, Vitol established VTTI, a storage company, in 2006 and acquired 90% of the Fujairah Refining Company in 2007. It divested the Come by Chance refinery in 2006.
Ton Vonk became President and CEO in 1990 and was succeeded by Ian Taylor in 1995. The business expanded, doubling turnover to $20 billion by the end of the decade. Vitol bought a metals business, Euromin and established a sugar trading desk. It also established Anchor insurance, a wholly owned insurer to give it access to Lloyds, acquired the Come by Chance refinery in 1995 and expanded into the CIS through its joint venture with Pechoraneftegas.
The Bahrain office opened (1982) and Vitol’s 25 employees celebrated its 20th anniversary. Ian Taylor, future CEO and Chair, joined Vitol in 1985 and established its crude oil trading business.
Vitol established a presence in the US (1974) and Singapore (1979) and moved its Swiss office to Geneva. In 1976 Jacques Detiger became CEO.
Founded in Rotterdam in 1966 by Henk Viëtor and Jacques Detiger. Vitol began trading fuel oil barges from ARA up the Rhine. It opened its first Swiss office in 1968 in Zug and in London in 1969.