Vitol
Contents
Background
According to it's website, Vitol is a multi-billion dollar oil conglomerate comprising a group of energy companies with revenues of over $100bn which ship 200m tonnes of oil a year[1].
History
Vitol was founded in 1966 with the focused aim of trading oil and oil products[2]
Funding and finances
People
- Ian Taylor - President and Chief Executive. In 2008, Taylor is reported to have been with Vitol for 20 years[3]. Taylor is reported to be a donor to Tory leader David Cameron. As his donation is in excess of £50,000, this entitles Taylor to meet Cameron in person through what is known as Cameron's Leaders Group[4].
Affiliations
Subsidiaries
- Vitol Broking Ltd.
- Vitol Services Ltd.
- Vitol Sugar S.A.
- Euromin S.A.
- Arawak Energy Limited
- Coastal Caverns Inc.
- Seaport Canaveral
- Anchor Insurance S.A.
- Vitol Refning S.A.
- Vitol Asia Pte Ltd
- Vitol Singapore Pte Ltd.
- Horizon Singapore Terminals (Pte) Ltd.
- Galoc Production Company WWL
- CJSC Baltiyskaya Nefteprevalochnaya
- Euromin Peru S.A.
- Hyson (Nigeria) Ltd.
- Vitol Terminals B.V.
- Anker Coal Company B.V.
- Petroned B.V.
- Anchor Insurance B.V.
- Anchor Insurance Rotterdam VOF
- EuroTank Amsterdam B.V.
- Vitol Dubai Ltd.
- Oman Trading Intl.
- Fujairah Refinery Company Ltd.
- Vopak Horizon Fujairah Ltd.
- Calson (Bermuda) Ltd.
- Anchor Insurance Group
- Rembrandt Insurance Company Ltd.
- Vitco S.A.
- Vitol Argentina S.A.
- Vitol Bahrain E.C.
Guilty of Grand Larsony after secret kickbacks to the Iraqi Government
In 2007, Vital S.A. pleaded guilty to first degree grand larsony after paying $13million in 'secret kickbacks' to the Iraqi government in exchange for oil under the United Nations' oil-for-food program. They were fined a total of $17.5million ($13 million in restitution to the Development Fund for Iraq)[5]
Publications
Contact details, Resources, Notes
Contact
- UK Address:
- Belgrave House
76 Buckingham Palace Road London SW1W 9TQ United Kingdom
- Phone:(44 20) 7973 4200
- Fax: (44 20) 7824 8239
- Website: vitol.com
Vitol also has offices in the U.S., Argentina, Bahrain, Bermuda, Canada, China, United Arab Emirates, India, Indonesia, Kazakhstan, Lithuania, Netherlands, Nigeria, Peru, Russia, Singapore and Switzerland. Details are available on their website Contact page
External Resources
Notes
- ↑ Vitol About Us Accessed 16th December 2008
- ↑ Vitol About Us Accessed 16th December 2008
- ↑ Rambert Dance Company Board Members Ian Taylor Accessed 16th December 2008
- ↑ Dispatches 'Cameron's Money Men' Channel 4 Production. 29th September 2008
- ↑ Bray, C. (2007) http://www.iht.com/articles/ap/2007/11/20/business/NA-FIN-US-Vitol-Oil-for-Food.php 'Swiss oil trading firm Vitol SA pleads guilty in oil-for-food case, will pay $17.5 million']. International Herald Tibune'. 20th November 2007. Accessed 11th December 2008
