41 articles
Vitol leads a $225 million Series D investment in Voltus Inc., which offers grid flexibility services to help data centers connect to power grids efficiently amidst rising energy demand.
Vitol CEO Russell Hardy claims Western oil inventories are exhausted due to the Iran war, warning of tight fuel markets through winter despite G7 emergency reserve announcements.
Vitol CEO Russell Hardy reports 14 million barrels daily leaving the Middle East, balancing global energy markets amid disruptions. However, winter tightness persists due to refining capacity losses,
Indian Oil Corp purchased 2 million barrels of Iraqi Basrah Medium oil for October loading from Vitol at a $32 per barrel discount to Dubai prices.
Vitol purchased at least 25 million barrels of Iraqi crude in September, leveraging its logistics clout amid US-Iran tensions. The deal highlights how regional conflicts have reshaped Middle East oil
Major traders Vitol and Trafigura demand deeper discounts on Venezuelan crude as global freight rates surge to record highs following geopolitical tensions, squeezing margins despite stable export vol
Namibia confirmed it will not renew its exclusive fuel supply agreement with Vitol beyond October 2026, citing supply reliability concerns following recent jet fuel contamination incidents. The move c
Vitol CEO Russell Hardy warned global oil-product stockpiles are at historic lows amid tight markets driven by geopolitical conflicts. Diesel prices hit record highs as refining capacity struggles to
Uganda appointed Vitol to market its crude oil exports, delaying commercial production to early 2027 due to infrastructure delays. The deal expands Vitol's regional presence alongside partners TotalEn
Namibia faces a jet fuel crisis forcing flight diversions after Vitol's contaminated cargo arrived. Replacement supplies are expected by the weekend, highlighting regional energy tightness linked to M
BP has commenced trading Venezuelan fuel oil, joining peers like Trafigura and Vitol following regulatory shifts. This move supports BP's strategic pivot back to oil and gas under new leadership, coin
Vitol's renewables arm acquired a South Carolina data center campus to develop energy supply and storage infrastructure, marking a major commodity trader's entry into AI infrastructure.
US regulators probe iron ore trader Radiant World over alleged falsified documents, causing creditors to review exposures. The firm denies wrongdoing as major counterparties including Vitol and Cargil
A tanker dispute in Madagascar has eased after the Torm Eva yielded to the state-contracted Sunda 1 at Toamasina port. This resolves tensions following a government law ending a private group's long-s
Major commodity traders Vitol, Cargill, and Glencore suspended business with iron ore trader Radiant World following allegations of falsified documents, prompting banks to review exposures worth hundr
Vitol distributed $5.9 billion to staff in 2025 despite profits halving to $4.2 billion. As the world's largest commodity trader, the firm navigated energy volatility and geopolitical tensions while m
Vitol plans to open an office in Venezuela as global traders expand their role in the country's oil exports under a new US-Venezuela pact. The move follows expanded supply deals exceeding 100 million
Namibia suspended a five-year ban on Vitol supplying retailer Nasan Energies due to fuel supply shocks from the US-Iran conflict, prioritizing emergency fuel availability.
Namibia's energy minister lifted a five-year ban preventing Nasan Energies from sourcing fuel from trader Vitol, citing public interest considerations like market stability. The decision follows a rev
Rio Tinto is negotiating a joint venture with Vitol to optimize freight logistics and reduce costs for its mining operations. The partnership aims to leverage Vitol's trading expertise amidst volatile
The U.S. Energy Department awarded energy trader Vitol a contract to borrow 500,000 barrels of crude oil from the Strategic Petroleum Reserve. This initiative aims to stabilize fuel markets and contro
Vitol secured exclusive diesel supply rights to Zambia via the Tazama pipeline, drawing IMF criticism over open access policies. This arrangement impacts Zambia's mining-dependent economy, where fuel
Commodity traders Trafigura and Vitol are expanding Venezuelan crude sales to Asian refiners amid rising local production and Middle East supply disruptions caused by the Iran war.
World's largest energy trader Vitol reported a net profit of around $4.5 billion in 2025, down from peak years but still historic. Revenue rose 3.6% to $343 billion as oil and energy product trading v
Vitol warns Western governments underestimate the oil supply crunch from the Strait of Hormuz blockade. Prices near $100/barrel have caused an estimated 4 million barrels per day in global demand dest
Vitol's Bahrain chief warns the oil market underprices Iran war risks, noting 14 million barrels offline. He predicts prices could rise sharply if supply shortages persist once inventory drawdowns sto
Eni plans to accelerate its $4 billion Baleine Phase 3 offshore project in Ivory Coast with Vitol, aiming to boost oil production to 150,000 barrels per day by mid-2028 due to favorable macro conditio
Vitol seeks permits to operate its idle Rio Bravo fuel terminal in Mexico following a bribery scandal. The move aims to secure a foothold in the Mexican downstream market amid global energy supply cha
George E. Warren LLC started exporting 1 million barrels of Venezuelan crude oil, challenging Vitol and Trafigura in a market opened by eased US sanctions. This entry highlights shifting dynamics in P
India's HPCL purchased two million barrels of Oman crude from Vitol for July delivery at a discount to June Brent prices, according to traders.
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