Commodities
Oil Trader Vitol Doubled Average Pay on Record $15.1 Billion Profit
- Average remuneration for 3,311 employees rose above $785,000
- Accounts show trading house also used windfall to reduce debt
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Vitol Group doubled the amount its staff earned last year as it notched up record profit of $15.1 billion thanks to the wild swings in energy markets caused by Russia’s invasion of Ukraine.
The trading house paid an average of just over $785,000 each in salary and bonuses to its 3,311 employees, compared with the previous year’s average of $394,000, according to the company’s audited annual accounts seen by Bloomberg News.