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‘An MBA in Corruption’: How Top Oil Trader Paid Bribes for Years

  • Vitol legal settlement shows it won deals through corruption
  • Trafigura and Glencore also face bribery allegations in Brazil
Russian Oil Fields Ahead of 180th OPEC Meeting
Photographer: Andrey Rudakov/Bloomberg

For years, the world’s largest oil trading firm has maintained that it has “zero tolerance” for corruption. Now Vitol Inc. has admitted that it was paying bribes through a network of shell companies and sham contracts.

As recently as July 2020, while publicly repeating those assurances, Vitol was bribing government officials in Ecuador and Mexico.