Predict your next investment

Corporation
ENERGY & UTILITIES | Oil & Gas Refining & Distribution
vitol.com

See what CB Insights has to offer

Investments

11

Portfolio Exits

3

Partners & Customers

10

About Vitol Group

The Vitol Group is an independent energy trading company that finds, extracts, trades, refines, stores and transports materials and resources from where supply is abundant to where demand is great.

Vitol Group Headquarter Location

K.P. van der Mandelelaan 130

Rotterdam, 3062,

Netherlands

(31 10) 498 7200

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Vitol Group Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
CBI Logo

Vitol Group Rank

Latest Vitol Group News

New Oil Traders Fill Void as Top Names Abandon Moscow Ties

May 17, 2022

Author of the article: Article content (Bloomberg) — With the world’s largest oil traders scaling back Russian crude exports, the market is trying to figure out who is going to fill the void. We apologize, but this video has failed to load. Try refreshing your browser, or New Oil Traders Fill Void as Top Names Abandon Moscow Ties Back to video The answers include a medium-sized Geneva-based trader with close ties to Moscow, several smaller firms that are getting more active, and some completely new names including one called Bellatrix — the name of a bad wizard from the world of Harry Potter. The ability of Russia to find middlemen, ships and buyers for its crude is pivotal for both the global oil market and Moscow. The fewer barrels the country exports, the greater the pressure there will be on supply, but also on the nation’s revenues. Advertisement 2 Article content The wide spread of traders shows how — for now — Russia is overcoming the retreat of Trafigura Group and Glencore Plc, two of the world’s biggest commodity merchants. Vitol Group, the world’s top oil trader, has also said it won’t touch new Russian business and that its activities will decline from this quarter. Litasco SA, a unit of Moscow-based producer Lukoil PJSC, has become the largest handler of Russia’s flagship Urals grade, according to port-agent reports compiled by Bloomberg. It hired tankers to haul at least 14 million barrels in April, and 8.6 million already this month — far exceeding anyone else’s share. There are no legal impediments on transporting Russian oil, although the US and UK have announced phased-in bans, and Europe is still expected do so in the coming weeks. Advertisement 3 Article content Geneva-based Litasco declined to comment on trading but said the company, and its subsidiaries and affiliates, are following all laws and regulations. The trader said it is taking “all necessary measures to mitigate the impact of the international situation on current operations, customers and consumers.” The majority of the Litasco cargoes likely came from Lukoil. In the past, at least some European refiners would have hired tankers to move them. With a large number of buyers having announced that they are exiting Russian business since the war, it means Litasco has to sell and ship an increasing proportion of barrels. Litasco has also started shipping more crude from the Arctic Sea — which previously would have gone to destinations in northern Europe and north America — to southern Italy, where the company has an oil refinery. Advertisement 4 Article content Important Shifts There are important shifts taking place in Asia too, from where Russia exports more than 350 million barrels a year of crude, most of it going to buyers in that region. That’s almost a quarter of the nation’s crude exports. Shandong Port Group Co., a company with deep ties to oil refiners in the Chinese province of that name, hired the tanker Kriti Future to move Russia’s Eastern Siberia Pacific Ocean, or ESPO oil, from Kozmino port to China this month, according to shipbrokers and fixtures seen by Bloomberg. No one answered calls to the general office of Shandong Port Group and an email wasn’t responded to immediately. The company, backed by the local government, has several ports, warehouses and its own fleet of ships. It said in a WeChat statement posted on its official account that a tanker carrying 100,000 tons of crude is expected to arrive at Dongjiakou, near Qingdao, in the middle of May. Advertisement 5 Article content Shandong Port Group’s involvement, and its connection with the local firms, suggests that some receivers of ESPO crude are starting to get more directly involved in bringing in more Russian barrels, most likely because the main traders for the cargoes have stepped back, according to people involved in the market. At least two Chinese oil companies and an international trading house have stopped loading those cargoes from the Kozmino to be shipped to China earlier this month, the traders said. “Mainstay traders — including state-owned ones — have announced very public drop-dead dates to stop trading Russian oil this month and that comes well after many shipping companies have moved away from the trade,” said Anoop Singh, head of tanker research at Braemar ACM Shipbroking Pte. Advertisement 6 Article content “If there is an all-out EU ban, then Russian oil trade will have to become more private, while some of those cheap barrels will continue flowing into limited outlets in Asia,” he added. Bellatrix, Livna  The most unusual name to lift Russia’s flagship Urals grade is a firm called Bellatrix. This month, it has ships transporting almost 3 million barrels of the crude, according to port-agent information compiled by Bloomberg. Two shipbrokers and three traders said they had never previously heard of Bellatrix and were unable to obtain contact information for it. Bellatrix’s May shipments represent a quarter of all the Urals crude from the Baltic Sea port of Primorsk where the name of the name of company shipping the barrels is listed. Bellatrix Lestrange is a character in Harry Potter books and movies. It has never previously appeared in the port-agent reports compiled by Bloomberg. Advertisement 7 Article content Oil traders and shipbrokers across Asia said more vessels loaded with Russian crude cargoes have also been hired by smaller charterers. The anticipation of an EU ban, coupled with the exit of larger firms, is putting increasing pressure on Asian customers to stop openly taking these barrels, according to traders. In Asia, a firm called Livna Shipping Ltd. is becoming more involved in a key trade. The Hong Kong-registered shipping company has been listed as the charterer of eight vessels to move Russia’s ESPO crude to China so far in May, data from shipping analytics firm Vortexa Ltd show. The company was a relatively small participant in April and had just two charters, and none in March. Vessels Agistri and Kriti Verano loaded ESPO crude from Kozmino by Livna in early May and went to Qingdao and Yingkou in China, according to Bloomberg ship-tracking data. Five additional ships have been chartered by Livna to deliver the variety to Chinese buyers later this month, while Agistri has been hired twice for the trade. The journey usually takes less than a week after loading. Advertisement 8 Article content A person who answered the phone at Livna in Hong Kong declined to comment. Other emerging names include Coral Energy, which lists a Dubai address and phone number on its website, which makes numerous references to Russian operations. Top Traders At least as interesting as who is transporting Russian oil is who is not. Glencore’s name doesn’t appear as the shipping company of any Urals crude since April. The company said in March it would honor pre-existing contracts but not sign any new trading deals in Russia. Likewise, Trafigura’s shipments also appear to have slumped sharply this month. So far in May, the company has lined up tankers to carry 200,000 tons of Urals. That’s down from well over 1 million tons in both March and April. Trafigura declined to comment. Vitol remained a relatively large shipper of Urals this month, but has also committed to cutting. It had ships for more than 14 million barrels of crude in April and May, the port data show, second only to Litasco. “Volumes of oil will diminish significantly in the second quarter as current term contractual obligations decline, and we anticipate this will be completed by end of 2022,” Vitol said in a statement in April. ©2022 Bloomberg L.P. Share this Story: New Oil Traders Fill Void as Top Names Abandon Moscow Ties

Vitol Group Investments

11 Investments

Vitol Group has made 11 investments. Their latest investment was in Motive as part of their Corporate Minority on March 3, 2022.

CBI Logo

Vitol Group Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

3/24/2022

Corporate Minority

Motive

Yes

1

3/22/2022

Corporate Minority

WPU

Yes

1

10/20/2021

Corporate Minority

Sun Mobility

$50M

Yes

6

10/18/2021

Series B

Subscribe to see more

$99M

Subscribe to see more

10

6/10/2021

Corporate Minority - II

Subscribe to see more

Subscribe to see more

10

Date

3/24/2022

3/22/2022

10/20/2021

10/18/2021

6/10/2021

Round

Corporate Minority

Corporate Minority

Corporate Minority

Series B

Corporate Minority - II

Company

Motive

WPU

Sun Mobility

Subscribe to see more

Subscribe to see more

Amount

$50M

$99M

New?

Yes

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

1

1

6

10

10

Vitol Group Portfolio Exits

3 Portfolio Exits

Vitol Group has 3 portfolio exits. Their latest portfolio exit was WPU on April 22, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

4/22/2022

IPO

$99M

1

5/4/2018

IPO

Subscribe to see more

Subscribe to see more

10

9/26/2016

Divestiture

Subscribe to see more

$99M

Subscribe to see more

10

Date

4/22/2022

5/4/2018

9/26/2016

Exit

IPO

IPO

Divestiture

Companies

Subscribe to see more

Subscribe to see more

Valuation

$99M

$99M

Acquirer

Subscribe to see more

Subscribe to see more

Sources

1

10

10

Vitol Group Acquisitions

7 Acquisitions

Vitol Group acquired 7 companies. Their latest acquisition was Liquind on September 28, 2021.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

9/28/2021

Seed / Angel

$99M

Corporate Majority

1

6/11/2019

Subscribe to see more

$99M

Subscribe to see more

10

10/20/2017

Subscribe to see more

$99M

Subscribe to see more

10

12/24/2016

Other

Subscribe to see more

$99M

Subscribe to see more

10

12/19/2013

Subscribe to see more

$99M

Subscribe to see more

10

Date

9/28/2021

6/11/2019

10/20/2017

12/24/2016

12/19/2013

Investment Stage

Seed / Angel

Other

Companies

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

Note

Corporate Majority

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Sources

1

10

10

10

10

Vitol Group Partners & Customers

10 Partners and customers

Vitol Group has 10 strategic partners and customers. Vitol Group recently partnered with WPU on March 3, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

3/26/2022

Partner

Denmark

The downstream rundown: In case you missed it 3/25

Vitol has entered a strategic partnership with Danish company WPU , which recycles waste plastic into plastic oils .

1

3/23/2022

Partner

United Kingdom

ITM Power partners with Vitol for hydrogen refueling

Our partnership will enable us to build Motive into a gas-for-transport company for the future , complementing our other sustainable transport initiatives , from LNG/biogas network Liquind , through to fleet EV solutions . ''

1

3/22/2022

Supplier

Denmark

Vitol to invest in plastics recycling company WPU - Vitol

Niels Stielund , Chairman of the Board at WPU said : `` The strategic partnership with Vitol enables WPU to continue a strong future production line .

1

9/22/2021

Partner

Subscribe to see more

Subscribe to see more

10

6/5/2021

Vendor

United States

Subscribe to see more

Subscribe to see more

10

Date

3/26/2022

3/23/2022

3/22/2022

9/22/2021

6/5/2021

Type

Partner

Partner

Supplier

Partner

Vendor

Business Partner

Country

Denmark

United Kingdom

Denmark

United States

News Snippet

The downstream rundown: In case you missed it 3/25

Vitol has entered a strategic partnership with Danish company WPU , which recycles waste plastic into plastic oils .

ITM Power partners with Vitol for hydrogen refueling

Our partnership will enable us to build Motive into a gas-for-transport company for the future , complementing our other sustainable transport initiatives , from LNG/biogas network Liquind , through to fleet EV solutions . ''

Vitol to invest in plastics recycling company WPU - Vitol

Niels Stielund , Chairman of the Board at WPU said : `` The strategic partnership with Vitol enables WPU to continue a strong future production line .

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Sources

1

1

1

10

10

Vitol Group Team

6 Team Members

Vitol Group has 6 team members, including current President, Thomas Rueda Ehrhardt.

Name

Work History

Title

Status

Thomas Rueda Ehrhardt

President

Current

Rick Evans

Chief Financial Officer

Current

Max Bulk

Chief Operating Officer

Current

Mike Loya

President

Former

Sam Lambroza

Chief Financial Officer

Former

Name

Thomas Rueda Ehrhardt

Rick Evans

Max Bulk

Mike Loya

Sam Lambroza

Work History

Title

President

Chief Financial Officer

Chief Operating Officer

President

Chief Financial Officer

Status

Current

Current

Current

Former

Former

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Request a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.