Oil Giant Vitol Hands Record $2.9 Billion Payout to Its Traders
- Company smashed profit record in 2020 with $3.2 billion haul
- Vitol is the world’s largest independent oil trading house
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Vitol Group has paid a record $2.9 billion to its executives and staff through share buybacks so far this year after the world’s largest independent oil trader notched up its best ever results in 2020.
The share buyback -- Vitol’s main way of rewarding about 350 top employees who own the privately-held company -- means the trading house has distributed a total of nearly $19 billion in the past 17 years to its partners, according to the company’s audited annual accounts, seen by Bloomberg News.