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...Rotterdam-based Vitol, whose chief executive sits in London, has had “conversations with a lot of [its] stakeholders to impress upon them the efforts that we’re putting in”, he added....
...Vitol last month launched a €1.7bn bid to acquire Italy’s Saras, which owns the biggest single refinery in the Mediterranean on the island of Sardinia....
...Mercuria’s rivals including Trafigura, Vitol and Gunvor have also been expanding their gas and power teams. Mercuria and O’Kane declined to comment....
...Revenues at Vitol fell 20 per cent last year, as prices of commodities like oil and gas moderated....
...In the UK, Vitol owns and operates five power plants through its partially owned subsidiary VPI, making it a bigger power generator than Centrica....
...An oil price range of $80 to $100 per barrel “feels like a sensible range”, the chief executive of Dutch oil trading company Vitol told the FT’s Commodities Summit on Tuesday, as global oil prices traded...
...Last year Vitol reported $400bn in revenues, while Trafigura posted $244bn in revenues and a record $7.4bn in profit....
...Even with all those perks, France’s protective labour laws are proving to be a problem for Wall Street. Vitol has another blockbuster year with $13bn profit Vitol is on a winning streak....
...Privately held Vitol, which employs about 1,800 people, made a record $15.1bn in net profit in 2022 and about $13bn in 2023, making it one of the most profitable companies in the world on a per capita basis...
...The agreed deal to purchase a controlling stake in Saras, which has a refinery in Sardinia, from the family of Italian billionaire Massimo Moratti came less than a year after Vitol had lost out to rival...
...However, the Civitas sale suggests the trading house made a significant return in just over two years. Vitol said it remains committed to making future upstream investments....
...Vitol said it was “very aware of the challenges facing households” and highlighted plans to invest more than £1.5bn over the next five years....
...(Journal of Financial Economics) — How the BOJ’s plan for a smooth exit from negative rates unraveled (Reuters) — Shrimp Jesus is on Facebook (404 Media) — Jay Newman chats with Slate — A job opportunity...
...Last week a former trader at rival Vitol was found guilty in New York of bribing officials in Ecuador and Mexico....
...The blue-chip S&P 500 dropped 0.9 per cent on Friday, capping its longest losing streak since October 2022. It fell for the third week in a row, losing 3.1 per cent across five sessions....
...The bank’s upgrade follows its forecast last week that Brent crude prices will hit $90 a barrel by the third-quarter....
...Oil trader Vitol agreed to pay more than $160mn to authorities in the US and Brazil in 2020 for bribery in Brazil, Ecuador and Mexico. Additional reporting by Michael Pooler...
...The benchmark S&P 500 fell 0.2 per cent on Thursday afternoon, notching five straight daily losses for the first time since October....
...S&P said it originally expected the war would not last “more than six months” as it downgraded Israel’s sovereign credit rating from double A minus to A plus....
...In recent years, Glencore, Vitol and Gunvor have settled similar corruption charges with the US Department of Justice....
...The S&P 500 notched its first gain of the week, recovering from a back-to-back decline, as traders took in new data that indicated a softening US economy....
...The S&P 500 declined on Thursday, headed for its fifth straight loss since October....
...US blue-chips ended their best quarter in five years, with the S&P 500 squeezing out a 0.1 per cent gain even as big tech names including Apple, Tesla and Meta dragged the Nasdaq Composite to a similar-sized...
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