Vitol

Geneva, Switzerland

The Vitol Group with offices in Rotterdam (Netherlands ) and Geneva ( Switzerland ) is an international commodity trading house; The group was founded in 1966 and is adjacent to Glencore and Gunvor the largest global commodities trader and a world leader. In 2011, the Company negotiated with a turnover of 297 billion U.S. dollars, about 457 million tons of oil ( derivatives ) or natural gas. In addition, a volume of 296 TWh electricity.

Background

The main business locations of Vitol focus on Geneva, Houston, Singapore and London. In addition to the global commodity sales and oil product trade, the company has a growing presence in the natural gas, energy, emissions and biofuels markets.

Vitol has interests in various oil stockholding, prospecting and production projects worldwide. The latter includes a shareholding in Arawak, with productions in Russia, Kazakhstan and Azerbaijan, a limited participation in the Galoc Oil Field, Philippines and prospecting in the Congo and Ghana.

Vitol Terminals Group has an investment value of over 1 billion U.S. dollars in 2010 to promote a planned capacity of nearly 6 million cubic meters in 4 continents. The current main locations include Amsterdam, Europoort (Netherlands) and 49 % share of the terminal in Ventspils in Latvia.

In addition to offices in Dubai and Bahrain, the main strategic investment the Fujairah Refinery Company Limited ( FRCL ) in the UAE, which includes 82,000 barrels per Raffinerietag and 461,000 cubic meters of deposit. FRCL planning major developments, for example, an extension of the deposit up to 564,000 cubic meters, the refurbishment of existing refining facilities and the installation of additional processing equipment. About the Varo Energy Vitol is involved in the Cressier refinery in Switzerland and 45% in bayernoil with a refinery in Germany. In February 2014 Vitol acquired for 2.6 billion U.S. dollars, the downstream business of Shell in Australia. In addition to the refinery in Geelong, the purchase included 870 service stations and divisions in the bitumen and chemicals sector. Excluded from the purchase, however, were the field of aviation and the oil system in Brisbane and the entire upstream sector.