Thursday 29 September 2016
 
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Vitol

No tighter oil market before 2018, says Vitol chief

The chief executive of Vitol, the world's largest oil trader, said on Wednesday he did not see the global oil market tightening before 2018. Ian Taylor also expressed scepticism over the significance of a potential OPEC deal o

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Oil firms rush to exploit end of US crude export ban

US energy group Enterprise and oil trader Vitol raced to exploit the end of a 40-year ban on most US crude exports, the first of many firms eager to "stress test" last week's historic opening. Despite a sudden change

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Kazmunaygas seeks up to $3bn in advance payments from Vitol

Kazakh state-owned oil and gas company KazMunayGas plans to receive up to $3 billion from trader Vitol in the form of advance payments for crude shipments from the Tengiz oilfield, KazMunayGas said in a statement on Wednesday. &nb

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Moroccan refinery's debts highlight oil sector lending dangers

When Morocco's only oil refinery suspended production in early August due to financial difficulties, it owed $450 million to trading houses, including Glencore, Vitol and BB Energy, according to traders and refinery sources familiar with t

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Vitol sees oil struggling to top $60 by end-2016

Vitol, the world's largest oil trader, believes the crude price will struggle to trade above $60 a barrel next year, as the effects of slowing global demand growth could be compounded by a return of Iranian and maybe even Libyan barrels.

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Vitol may shift Swiss HQ over steep tax

Oil trader Vitol could move its headquarters from Geneva if Switzerland increased taxes on big commodity traders, and others would do the same, said the company's managing director. "We could - and we wouldn't be the

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Steep fall in oil prices likely says top trader Vitol

Oil prices could drop by as much as $15 per barrel should countries such as Libya restore production and sanctions on Iran be eased, forcing some of the most expensive US oil projects to stop pumping, the head of the world's largest oil trad

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Vitol apologises for Kurdish oil buy says Iraq

  Top oil trader Vitol has apologised to the Iraqi government for buying Kurdish oil that was exported via Turkey without Baghdad's permission, Iraqi Oil Minister Abdul-Kareem Luaibi said.   Bag

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Iraq seals 2013 gasoil deal with Vitol, BP

Iraq's State Oil Marketing Organisation (Somo) has finalised a term deal to buy up to 1.097 million tonnes of gasoil for delivery next year from Swiss trader Vitol and oil major BP, traders said on Wednesday. The company has a

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Vitol JV eyes doubling Fujairah oil storage

Vitol Tank Terminals International (VTTI) is studying almost doubling its oil storage capacity at the port of Fujairah, just outside the Strait of Hormuz, and could start construction by early 2014, a spokeswoman for VTTI said on Sunday.

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