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63-504: With revenues of $ 505 billion in 2022, Vitol is the largest independent energy trader in the world, and would be the second-largest company worldwide as measured by revenue on the Fortune Global 500 list . Given the secrecy Vitol maintains around all its business activities and the limited nature of its statutory disclosures, it is excluded from rankings. The company, however, does provide some more financial information to its lenders and to

126-681: A 10.4% stake in Saras S.p.A. , the owner of the Sarroch refiner plant in Sardinia. That April, Italy's government partly approved Vitol's plan to take over the company for $ 1.83 billion. State-run GAIL (India) Ltd. signed a 10 year import deal with Vitol in early 2024, for liquefied natural gas. In addition to the global crude and product trading businesses, the company trades coal , natural gas , power, ethanol , methanol , gasoline , LNG , LPG , naphtha , bitumen, base oils and carbon emissions . In 2023, Vitol

189-718: A 50% stake in VTTI from May 2010 until August 2015. In April 2022, Vitol announced its intention to stop trading Russian petrol by the end of 2022 due to international sanctions during the Russo-Ukrainian War . In January 2012, Vitol acquired a stake in a subsidiary of the South African shipping firm Grindrod, which gives it access to a coal terminal in Mozambique. In addition to offices in Dubai and Bahrain , Vitol's key strategic asset in

252-500: A bitter legal and boardroom battle over the amount of dividends paid by the company, in a settlement, the stakes of William "Bill" Koch and Frederick R. Koch , who wanted the company to pay more dividends rather than reinvest in the business, were bought out for $ 620 million and $ 400 million, respectively, and Charles Koch and David Koch became majority owners in the company. In June 1985, William and Frederick sued their brothers claiming that they were underpaid for their stakes, but

315-457: A controlling interest. They then acquired Union's interest. The Pine Bend Refinery produced chemicals, fibers, polymers, asphalt and other commodities such as petroleum coke and sulfur. In 1970, Charles was joined at the family firm by his brother David Koch . Having started as a technical services manager, David became president of Koch Engineering in 1979. In 1979, the company acquired 780 dealerships from Chrysler . In June 1983, after

378-543: A crude oil-gathering system in Oklahoma, and some cattle ranches. In 1968, Charles approached Union Oil of California about buying its 40% interest in Great Northern Oil Company but the discussions quickly stalled after Union asked for a large premium. In 1969, Koch merged his interest with the 15% interest owned by J. Howard Marshall , then owning a combined 50% of the company, preventing Union from assembling

441-602: A division of Flint Hills, owns and operates 4,000 miles (6,400 km) of pipeline used to transport petroleum, natural gas liquids , and chemicals. Its pipelines are located in Wisconsin, Minnesota, Texas, Missouri, Iowa, Oklahoma, Louisiana, and Alberta, Canada. The firm has offices in Wichita, Kansas , St. Paul, Minnesota , Corpus Christi, Texas , and Port Arthur, Texas . In 1946, Wood River Oil Co. (a precursor company to Koch Industries) purchased Rock Island Oil and Refining Co. As

504-471: A few other entities with which it trades. The company ships more than 350 million tonnes of crude oil per year and controls 250 supertankers and other vessels to move it around the world. On average it handles more than 7.6 million barrels a day of oil and products, roughly equivalent to the daily consumption of Japan, the world's fourth-largest oil consumer after the United States , China, and India. Vitol

567-720: A part of the transaction, it acquired a crude-oil pipeline in Oklahoma. As a result of construction and investments, Wood River acquired other pipelines in the US and Canada. In 1992, it acquired United Gas Pipeline Co., owner of 9,271 miles of pipelines. It owns the largest interest in the Colonial Pipeline . Georgia-Pacific (Georgia-Pacific LLC, aka: "GP") is one of America's largest forest products companies, specializing in pulp and paper and building materials (largely made from GP's own timber ), based in Atlanta , Georgia . GP

630-869: A portfolio of exploration and development assets along the West African Transform Margin in Ghana and the Ivory Coast . In February 2014, it was reported that Vitol, in concert with the Abu Dhabi Investment Council , had bought the downstream businesses of Shell Australia (excluding aviation) for a total of approximately AU$ 2.9 billion. The purchase included Shell's Geelong Refinery and its 870-site retail business, along with its bulk fuels, bitumen, chemicals and part of its lubricants businesses in Australia. The business trades as Viva Energy , although

693-580: A year. In 2013, Vitol invested in its first power plant, VPI Immingham in the UK. The combined heat and power plant (CHP) is one of the largest of its kind in Europe, capable of generating 1,240 MW and up to 930 tonnes of steam per hour which is used by nearby refineries. The gas-fired plant provides approximately 2.5% of UK peak electricity demand. In 2021, Vitol had 1.2 GW of renewable power generation currently operational, planned & with further investments across

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756-783: Is a polymer and fibers company that makes "Stainmaster" carpet products, amongst many others. When the $ 4.4 billion deal was announced in 2003, Koch planned to make Invista a part of KoSa, its polyester business, which Koch became owner of as of November 14, 2001, after buying the 50 percent stake owned by IMASAB S.A. of Mexico. The "Lycra" fiber brand was sold to Shandong Ruyi Investment Holding in 2019. Koch Ag & Energy Solutions, LLC and its subsidiaries, including Koch Fertilizer, LLC, Koch Agronomic Services, LLC, Koch Energy Services, LLC and Koch Methanol, LLC, globally provide products including fertilizer and other plant nutrients for agricultural turf and ornamental plant markets, as well as other enhanced efficiency products and technology for

819-575: Is a privately held company by about 400 partners who are current and former employees, who are known for their intense culture of privacy and secrecy from both competitors and the general public. It is reported that Vitol made a payout of $ 2.9 billion to all its partners in 2021. In 2021, Vitol's revenues doubled to around $ 279 billion, after oil demand spiked after the end of pandemic lockdowns. In 2021, its website stated it traded 7.6 million barrels of crude and other oil products. In 2022, Vitol Group said it would stop trading Russian crude and oil products by

882-553: Is a refining and chemicals company based in Wichita, Kansas . It sells gasoline, diesel, jet fuel, ethanol, polymers, intermediate chemicals, base oils and asphalt. It operates oil refineries in six states and chemical plants in Illinois, Texas and Michigan. The firm also manufactures asphalt used for paving and roofing applications at 13 asphalt terminals in six states including Alaska (2 terminals), Wisconsin (2), Iowa (3), Minnesota (4), Nebraska (1), and North Dakota (1). The firm manages

945-853: Is an American multinational conglomerate corporation based in Wichita, Kansas , and is the second-largest privately held company in the United States, after Cargill . Its subsidiaries are involved in the manufacturing, refining , and distribution of petroleum , chemicals , energy , fiber , intermediates and polymers , minerals , fertilizer , pulp and paper , chemical technology equipment, cloud computing , finance , raw materials trading, and investments . Koch owns Flint Hills Resources, Georgia-Pacific , Guardian Industries , Infor , Invista , KBX, Koch Ag & Energy Solutions, Koch Engineered Solutions, Koch Investments Group, Koch Minerals & Trading, and Molex . The firm employs 122,000 people in 60 countries, with about half of its business in

1008-569: Is an industrial manufacturer of glass , automotive, and building products based in Auburn Hills , Michigan . The company manufactures float glass, and fabricated glass products for commercial, residential and automotive applications. The company employs more than 18,000 people and has present activities in North and South America, Europe, Asia, Africa and the Middle East. Acquired from DuPont , Invista

1071-679: Is one of the America's largest manufacturers and distributors of tissue , pulp , paper , toilet and paper towel dispensers, packaging, building products and related chemicals , and other forest products. GP manufactures a wide variety of household products under the brand names Brawny, Angel Soft, Mardi Gras, Quilted Northern, Dixie, Sparkle, and Vanity Fair. The Atlanta-based company has operations in 27 states. In 2005, after having already acquired parts of GP, Koch Industries began full acquisition of GP, which has since been an independently operated and managed Koch subsidiary. Guardian Industries

1134-445: Is the list of Top 10 companies: As of August 2020 , this is the list of the Top 10 countries with the highest earning Top 500 companies: The Global 500 includes Unilever under the heading "Britain/Netherlands", as the company is counted in the tally for both countries. The following are the top-ranked companies in 2020 for each sector: As of August 2020 , just 24 (5%) of

1197-461: The Patient Protection and Affordable Care Act , for providing health insurance to retirees too young to be eligible for Medicare . In 2013, the company acquired Molex , a provider of electronic components, for $ 7.2 billion. In September 2014, along with the private equity arm of Goldman Sachs , the company acquired Flint Group , a printing ink producer, for $ 3 billion. In June 2014,

1260-569: The UN oil-for-food program. Vitol subsequently paid $ 17.5 million in restitution for its actions. According to an article in the Financial Times , Vitol was the company to organise the first controversial sale of Libyan rebel oil to Tesoro Corporation in early April 2011. According to the Financial Times , the company was approached by the Qatari national oil company to sell a cargo of crude oil supplied by

1323-737: The United Negro College Fund announced a $ 25 million grant from Koch Industries and the Charles Koch Foundation to go towards merit-based scholarships and general support of historically black colleges and universities . In December 2014, the company acquired Oplink Communications , an optical networking device maker, for $ 445 million. In 2015, the company joined the " Ban the Box " movement by removing questions about prior criminal convictions from its job application, making it easier for ex-offenders to find work. In November 2015,

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1386-674: The 2010 Lone Star Land Steward Award. The company also owns ranches in Kansas and Texas that are being marketed for sale. In March 2023, Koch Industries announced a leadership restructuring wherein Charles Koch will remain chairman and serve as co-CEO alongside Dave Robertson, who will serve as vice chairman of the board. Jim Hannan was named President and COO. Chase Koch and Richard Dinkel were both named executive Vice President while maintaining their other roles. In addition, Ray Geoffroy and Mark Luetters were named senior vice presidents. In 2024,

1449-540: The Fortune Global 500 companies are located outside East Asia , North America , and Europe : The following are the top-ranked companies in 2022 for each sector: The following is the list of Top 10 companies: As of August 2021 , this is the list of the Top 10 countries with the highest revenues Top 500 companies: As of August 2021 , just 21 (4%) of the Fortune Global 500 companies are located outside East Asia, North America, and Europe: The following

1512-429: The Fortune Global 500 companies are located outside East Asia, North America, and Europe: The following is the list of Top 10 companies: As of July 2019 , this is the list of the Top 10 countries with the most Global 500 companies: The Global 500 includes Unilever & Royal Dutch Shell under the heading "Britain/Netherlands", as the company is counted in the tally for both countries. The following are

1575-748: The French Southern virtual Gas Trading Point (“PEG Sud”) between 1 June 2013 and 31 March 2014. Vitol appealed this decision, but the French Council of State confirmed the sanction in June 2021. In 2020, Vitol Inc. agreed to pay a combined total criminal penalty of $ 135 million to resolve bribery charges with law enforcement authorities in the United States and Brazil. The resolution arises out of Vitol schemes to pay bribes to officials in Brazil, Ecuador and Mexico. In 2023, both Shell and Vitol were accused by Oleg Ustenko,

1638-598: The Geelong refinery near Melbourne (Australia). In 2018, Vitol bought the 85,000 barrel per day Rotterdam Condensate Splitter from Koch Industries . Vitol, through its wholly owned subsidiaries Arawak Energy Limited and Vitol E&P, has interests in various exploration and production projects worldwide. Arawak Energy is mainly focused on the FSU where it produces oil and gas in Ukraine, Kazakhstan and Azerbaijan , while Vitol E&P holds

1701-448: The Global 500 rankings. Most of this growth is accounted for by a rapid increase in the number of Chinese Global 500 companies, of which there were 135 by 2021, increasing from only 10 in 2001. The share of European -based companies also declined, from 158 to 143, over the same period. The following is the list of Top 10 companies in 2023: These are the Top 10 countries/territories with

1764-703: The Koch family, supported the American war effort against Adolf Hitler and his government. In 1940, Koch joined new partners to create the Wood River Oil and Refining Company. In 1946, the firm acquired the Rock Island refinery and crude oil gathering system near Duncan, Oklahoma . Wood River was later renamed the Rock Island Oil & Refining Company. Charles Koch joined Rock Island in 1961, having started his career at

1827-533: The Libyans in exchange for technological supplies and fuel for the National Transitional Council of Libya . In September 2012, it was alleged that the company had bought and sold Iranian fuel oil, bypassing an EU embargo against Tehran . Vitol bought 2 million barrels using a ship-to-ship transfer off the coast of Malaysia from a National Iranian Tanker Company vessel and sold it to Chinese traders. It

1890-607: The Middle East is the Fujairah Refinery Company Limited (FRCL), which operates an 82,000 barrel per day refinery and a 1,034,000 cubic meter tank farm. FRCL has further development plans in place, which include a 140,000 cubic meter expansion of the tank farm, refurbishment of existing refining units and the installation of additional processing units. Vitol also has invested in refining assets in Bayernoil (Germany), Cressier (Switzerland), Antwerp (Belgium) and

1953-639: The Shell brand remains on many of its retail products. Further, in January 2015, Vitol in collaboration with Eni signed a $ 7 billion agreement with the government, for the production of oil and gas at Cape Three Points in Western Region of Ghana . The contract is expected to help meet Ghana's burgeoning energy needs. Vitol Aviation is focused on Europe, North America and Africa, serving the world’s largest airlines and military customers with 5.7 million tonnes of jet fuel

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2016-633: The U.S. It also operates 4 fuel terminals in Wisconsin, 6 in Texas, and one each in Iowa and Minnesota. In 1981, it acquired a petroleum refinery in Corpus Christi, Texas , from Sunoco for $ 265 million. In 1994, it acquired a 104,000 b/d petroleum refinery in Corpus Christi, Texas , from Kerr-McGee . On July 16, 2014, Flint Hills Resources acquired PetroLogistics, a Houston-based manufacturer of chemical and polymer grade propylene. Koch Pipeline Company LP,

2079-516: The USSR to be "a land of hunger, misery, and terror." According to Charles Koch, "Virtually every engineer he worked with [there] was purged." In the 1930s Winkler-Koch built refineries in nine different countries across hundreds of projects. In 1933 when several American companies were doing business in Germany, in a joint venture with William Rhodes Davis , Koch assisted in the design and construction of

2142-584: The United Kingdom) and three in East Asia (China, Japan and South Korea). Moreover, the top six (United States, China, Japan, Germany, France and the United Kingdom) are the world's largest economies as estimated by the IMF ( List of countries by GDP (nominal) ). Among the Global 500, 379 companies (75.8%) are from these six countries. The following are the top-ranked companies in 2018 for each sector: The following are

2205-513: The United States. The company was founded by its namesake, Fred C. Koch , in 1940 after he developed an innovative crude oil refining process. Fred C. Koch died in 1967 and his majority interest in the company was split amongst his four sons. In June 1983, after a bitter legal and boardroom battle over the amount of dividends paid by the company, the stakes of Frederick R. Koch and William "Bill" Koch were bought out for $ 1.1 billion and Charles Koch and David Koch became majority owners in

2268-567: The company "signed a Statement of Support with Employer Support of the Guard and Reserve (ESGR) that pledges Koch will provide supervisors with the tools to hire and support employees serving in the National Guard of the United States ." From 2017 to 2021, the company was featured in the Forbes' list of America's Best Employers by State. In November 2017, Koch Disruptive Technologies was established,

2331-753: The company announced a name change to Koch, Inc. to reflect its broadening scope. Koch invested $ 2 billion in Infor , which focuses on cloud computing , in November 2016, another $ 1.5 billion in January 2019, and acquired the remainder of the company in April 2020 in a $ 13 billion transaction. Arteva Europe is an "internal bank" which is headquartered in Luxembourg and manages the European cash flows of Koch Industries. Flint Hills Resources LP, originally called Koch Petroleum Group,

2394-539: The company has used its freedom from the pressures of public markets to make long-term investments and concentrate on growth. In 1925, Fred C. Koch joined MIT classmate Lewis E. Winkler at an engineering firm in Wichita, Kansas, which was renamed the Winkler-Koch Engineering Company. In 1927, they developed a more efficient thermal cracking process for turning crude oil into gasoline. This process, which

2457-573: The company sold to many independent refineries in the United States, threatened the competitive advantage of established oil companies, which sued for patent infringement. Temporarily forced out of business in the United States, they turned to other markets, including the Soviet Union , where Winkler-Koch built 15 cracking units between 1929 and 1932. During this time, Koch came to despise communism and Joseph Stalin 's regime. In his 1960 book, A Business Man Looks at Communism , Koch wrote that he found

2520-488: The company to go on leave and never returned." Egorova-Farines sued Koch-Glitsch for wrongful termination in France , lost, and "was ordered to pay costs for bringing a frivolous case". In 2010, the company was among the first group of nearly 2,000 employers that applied for and were granted federal reimbursements from the U.S. Department of Health and Human Services , under the new Early Retiree Reinsurance Program established by

2583-427: The company. Charles owns 42% of the company; trusts for the benefit of Elaine Tettemer Marshall (the daughter in-law of J. Howard Marshall ) and Elaine's children, Preston Marshall and E. Pierce Marshall Jr., own 16% of the company. David Koch died on August 23, 2019, and his heirs own the remaining 42% balance of the corporation. Charles Koch has stated that the company would go public "over my dead body" and that

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2646-530: The corporation's venture arm, led by Chase Koch , son of Charles Koch. In July 2019, the company sold its leases in the Athabasca oil sands . In December 2021, Rupert Murdoch and his wife, Jerry Hall , acquired a 340,000 acres (1,400 km ) ranch in Beaverhead County, Montana , from Matador Cattle Company, a subsidiary of the company, for $ 200 million. Matador was formed in 1951 by Fred Koch. It won

2709-555: The economic advisor to the Ukrainian president, of prolonging the war in Ukraine through exploiting a loophole in EU sanctions to bring products derived from Russian oil into Europe, through Turkey. Vitol, in April 2022, had pledged to cease trading Russian origin crude oil and product. Vitol Asia Pte Ltd operates as an energy and commodities company, and offers refining, trading, shipping, and storage of crude oil and energy products. The company

2772-629: The end of that year. In 2024, it owned and operated five power plants in the UK through VPI, a partially owned subsidiary. In April 2024, it remained the world's largest independent commodity trader. It does not publicly release financial results, but in 2023, it reportedly made $ 13 billion in net profit, according to the Financial Times . It had made $ 15.1 billion in 2022, and $ 4 billion in 2021. In 2024, it had approximately 450 senior partners in London, Geneva, Singapore, and Houston. In 2022, it had shareholder equity of $ 25.8 billion. In early 2024, Vitol held

2835-465: The energy and chemical markets. Koch Fertilizer, LLC, is one of the world's largest makers of nitrogen fertilizers. Koch Fertilizer owns or has interests in fertilizer plants in the United States, Canada, Trinidad and Tobago, Venezuela, and Italy, among others. Koch Fertilizer was formed in 1988 when the Koch companies purchased the Gulf Central Pipeline and ammonia terminals connected to

2898-556: The energy spectrum. In 2018, Vitol traded: A 2001 article in The Observer stated that in 1995 Vitol had secretly paid US$ 1 million to Serbian war criminal Arkan to settle a deal with a Serbian Oil company, Orion. Vitol has denied all charges, arguing that no government agency has ever prosecuted the company in this respect. In 2007, Vitol pleaded guilty to grand larceny in a New York court for paying surcharges to Iraq's national oil company during Saddam's regime and circumventing

2961-415: The four employees involved were terminated. According to journalist Jennifer Rubin , Koch Industries' general counsel stated that Egorova-Farines failed to promptly share the findings, choosing instead to give the information to a manager at Koch-Glitsch who was later fired for bribery. According to Koch Industries' general counsel, "Egorova-Farines was not fired but instead ran into performance problems, left

3024-498: The globe. Vitol (45% stake), along with IFM Investors (45% stake) and Abu Dhabi National Oil Company (10% stake), own VTTI B.V., a storage and terminals business with a capacity of around 8.7 million cubic meters (MCM) in 11 countries: Netherlands (1.328 MCM + 1.118 MCM), Latvia (1.195 MCM), UAE (1.180 MCM), Belgium (0.965 MCM), Malaysia (0.893 MCM), Cyprus (0.544 MCM), USA (0.452 MCM), Argentina (0.218 MCM), Kenya (0.111 MCM), Russia (0.049 MCM), Nigeria (0.016 MCM). MISC Berhad held

3087-518: The heading "Britain/Netherlands", as the company is counted in the tally for both countries. As can be seen from the table above, 425 (85.0%) of the Global 500 are represented by only 10 countries: two in North America (Canada and United States), five in Western Europe (France, Germany, Netherlands, Switzerland, and the United Kingdom) and three in East Asia (China, Japan and South Korea). Moreover,

3150-476: The highest revenues from the Top 500 companies as of August 2023: As of August 2023 , 28 (6%) of the Fortune Global 500 companies are located outside East Asia , North America , and Europe : The following are the top-ranked companies in 2023 for each sector: The following is the list of Top 10 companies in 2022: These are the Top 10 countries with the highest revenues from the Top 500 companies as of August 2022: As of August 2022 , 26 (5%) of

3213-540: The management consulting firm Arthur D. Little . He became president in 1966 and chairman at age 32, upon his father's death the following year. Wood River Oil and Refining Company was renamed Koch Industries in 1968 in honor of Fred Koch, the year after his death. At that time, it was primarily an engineering firm with a 35% interest in Great Northern Oil Company, which owned the Pine Bend Refinery in Minnesota,

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3276-474: The most Fortune 500 headquarters. On June 3, 2011, the Atlanta Business Chronicle stated examples of Fortune including regional headquarters for some cities, excluding regional headquarters for other cities and in some cases excluding headquarters that are physically located inside a city limit. Since 2001, there has been significant change in the geographical distribution of the companies in

3339-523: The pipeline. The next year, the Koch Nitrogen Company was formed in order to market ammonia. The next few years saw purchases of various ammonia facilities in Louisiana, Canada, and elsewhere, and ammonia sales agreements with firms in Australia, the UK, and other countries. The year 2010 saw the founding of Koch Methanol, LLC, and Koch Agronomic Services, LLC. In October 2010, a plant in which Koch had

3402-537: The purchasing of domestic crude oil from Texas and Colorado offices, has five ethanol plants across Iowa and one in Nebraska, has a refinery terminal in Alaska, and operates refineries in Alaska, Texas, and Minnesota. The Pine Bend Refinery in Minnesota can process 392,000 barrels (62,300 m ) of crude oil per day, most of which comes from Alberta , Canada . It handles one quarter of all Canadian oil sands crude entering

3465-738: The suit was dismissed for lack of merit. In September 2001, the company acquired KoSa. This company is considered the largest producer of polyester in the world. In 2005, the company acquired Georgia-Pacific , one of the world's largest timber , forest products and paper companies. In 2008, the company discovered that the French affiliate Koch-Glitsch had violated bribery laws allegedly securing contracts in Algeria , Egypt , India , Morocco , Nigeria and Saudi Arabia after an investigation by Ethics Compliance officer, Egorova-Farines. After Koch Industries' investigative team looked into her findings,

3528-457: The third-largest oil refinery in Germany at the time. It was also one of the few refineries capable of refining fuel for airplanes, and was later a strategic bombing target for Allied forces when World War II broke out. The project was stalled for some time as Davis sought approval, which was granted by the Nazi government. The war commenced six years after the refinery was completed. Koch’s business, and

3591-447: The title "International 500" while the Fortune 500 contained and still contains exclusively United States corporations. In 1990, United States companies were added to compile a truly global list of top industrial corporations as ranked by sales. Since 1995, the list has had its current form, listing also top financial corporations and service providers by revenue. Several inconsistencies exist in Fortune 's ranking of cities with

3654-406: The top six (United States, China, Japan, France, Germany, and the United Kingdom) are some of the world's largest economies as estimated by the IMF ( List of countries by GDP (nominal) ). Among the Fortune Global 500, 371 companies (74.2%) are from these six countries. The top-ranked companies in each sector are as follows: Koch Industries Koch, Inc. ( / k oʊ k / KOHK )

3717-457: The top-ranked companies in 2018 for each industry: Most profitable The following is the Global 500 list sorted by profits: The following is the list of Top 10 companies: Fortune had previously listed Shell as a British/Dutch company, but as of the 2016 listing it is listed as Dutch. As of November 2017 , this is the list of the Top 10 countries with the most Global 500 companies: The Global 500 includes Unilever under

3780-560: The top-ranked companies in 2019 for each sector: The following is the list of Top 10 companies: As of July 2018 , this is the list of the Top 10 countries with the most Global 500 companies: The Global 500 includes Unilever under the heading "Britain/Netherlands", as the company is counted in the tally for both countries. As shown in the table above, 436 (87.2%) of the Global 500 are represented by only 10 countries: two in North America (Canada and United States), five in Western Europe (France, Germany, Netherlands, Switzerland and

3843-471: Was also stated that Vitol is based in Switzerland, which did not implement international sanctions , so Vitol had skirted the charges. In 2013, The Telegraph alleged that the company had been using, for over a decade, an Employee Benefit Trust, avoiding paying income tax for its UK staff. In 2018, The Dispute Settlement and Sanctions Committee of CRE, the French Energy Regulatory Commission, fined VITOL S.A. €5 million for engaging in market manipulation on

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3906-461: Was founded in April 1990 and is headquartered in Singapore . The CEO of this subsidiary has been Mike Muller since 10 September 2019. Fortune Global 500 The Fortune Global 500 , also known as Global 500 , is an annual ranking of the top 500 corporations worldwide as measured by revenue . The list is compiled and published annually by Fortune magazine. Until 1989, it listed only non– United States industrial corporations under

3969-436: Was the world's largest independent energy trader. The company confirmed in 2024 that it was expanding into metals, with the CEO calling it a "relatively small addition to our business." It had received net profits over $ 28 billion over the prior two years. It had previously, in the 1990s, had little success with metals trading when it purchased Euromin. In total, Vitol has around 16 million cubic meters of storage capacity across

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