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.
Tom 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.
We behave honestly, responsibly and in good faith.
‘Our reputation for integrity is the reason we have long-established partnerships all over the world. Counterparties trust us on account of the professionalism of our colleagues’.
We seize opportunity, work hard for success and own our decisions.
‘Our flat organisation structure is key to empowering our people, enabling their ideas to become reality and moving the business forward with agility’.
We strive to do our best and be the best we can be.
‘Every day you have the chance to try and get the most out of the opportunities that come your way. Excellence isn’t a skill, it’s a culture of striving for the best outcome for the business’.
We are respectful and considerate of others.
‘It doesn’t matter who you are, everyone at Vitol should treat people with kindness and respect. It’s only by creating a working environment where colleagues and counterparts feel mutually respected that we are able to achieve our best’.
We work as a team.
‘Teamwork is vital, by working together we are able to support each other, remain competitive and deliver for the business’
We are always looking for talented people to join our teams. We encourage innovation and entrepreneurship across the organisation with our people focused on delivering results efficiently and safely.
Our company is evolving. We are solving the energy challenges of the world today and investing in energy solutions for the future. By deploying our scale and market understanding, we are investing in solutions that can help facilitate the energy transition. To date, we have committed $2.2 billion of capital to renewable power generation and sustainable energy solutions.
Event | 26.05.2023
Houston | United States | REF312V
Vitol has recently become aware of external parties falsely claiming to be recruiting on behalf of the Vitol Group. Vitol is taking appropriate legal action against those parties. Vitol wishes to make it clear that it will never ask for financial payment at any stage of the recruitment process and any requests for personal data will be made at the appropriate time through our formal recruiting channels. Moreover, please note that any correspondence that does not originate from the vitol.com domain should not be considered as genuine.