Vitol Earned $13 Billion in Second Year of Blowout Profits
- Trader Vitol has made over $32 billion in the past three years
- Figures show Vitol has cemented position as top energy trader
This article is for subscribers only.
Vitol Group posted a profit of about $13 billion for 2023, according to a person familiar with the matter, marking the second consecutive year of bumper earnings for the world’s biggest independent oil trader.
Profit fell from the record $15.1 billion that Vitol earned a year earlier but was still more than triple the company’s profit in 2021, before Russia’s invasion of Ukraine triggered wild swings across energy markets that create opportunities for traders like Vitol.