Overview of Vitol’s trading business activities
Vitol has announced the sale of a stake in Australia’s Viva Energy. The transaction is worth USD 459 million. The seller will retain a controlling stake of 30%.
According to official statements, the Dutch company has placed more than 248 million shares in the Australian fuel supplier on the market, about 16% of the company’s securities. The value of each share is around AUD 2.9. It is worth noting that this sale is the first since Viva Energy went public more than five years ago.
Vitol business overview
The company was established in Rotterdam in 1966 as a trading company that produces, transports and sells electricity and other commodities. It currently has offices in several countries around the world, including the US, Singapore and the UK. Its headquarters are in Switzerland.
In 2002, Vitol became the world’s largest trader in the energy sector. Its turnover was USD 505 billion. It was also the second-largest company in the world by turnover. One of the characteristics of Vitol is the secrecy of its business activities. The company is also subject to Swiss data protection laws, and as a result, it is not a participant in a number of ratings. However, the company makes full financial statements available to its creditors and partners, demonstrating the transparency of the business.
Vitol is active in the market and carries out large volumes of trading:
– ships approximately 350 million tonnes of crude oil per year;
– the company operates 250 tankers and other types of vessels;
– the company handles about 7.6 million barrels of crude oil and its products per day.
The volume handled is almost equivalent to Japan’s daily consumption of raw materials, which ranks 4th in the world.
Vitol works with 400 partners who are current and former employees. According to official figures, the company paid them around USD 2.9 billion in 2021.
In addition to oil, the company trades electricity, methanol, gas and other commodities. Vitol owns storage facilities in several countries around the world. Their total volume is around 16 million cubic metres. The company also has interests in a number of businesses, including a South African shipping company and mining and processing facilities. Vitol also explores natural resources through subsidiaries. The company is also actively developing its renewable energy business, including the production of biofuels.