Vitol, the world’s largest independent commodity trader, paid senior employees a record $6.4bn last year, in the latest sign of how companies in the industry have profited from the disruption to energy markets unleashed by Russia’s full-scale invasion of Ukraine.
The $6.4bn payout was made to about 450 Vitol partners including top executives, and comes after the Rotterdam-based, privately owned group reported $13bn in net profit for 2023, its second highest and far higher than its rivals.
Vitol is owned by senior employees spread across trading hubs in London, Geneva, Singapore and Houston, and the remuneration for last year took the form of a share buyback.
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