vitol.com vitol.com VITOL Contents 01 Vitol at a glance 04 Iron ore 30 A partner for the long-term 06 Alumina 31 Operating globally 08 Our companies 32 Trading portfolio 10 Vivo Energy 34 Crude oil 12 Viva Energy Australia 36 Middle distillates 14 Varo Energy 38 Gasoline 15 VTTI 40 Naphtha 16 Vitol Aviation 42 Liquid petroleum gases (LPG) 17 VALT 43 Fuel oil 18 Blueknight 44 Asphalt 20 Ventspils nafta Group 45 Methanol 21 Cockett Marine Oil 46 Ethanol 22 VPI Immingham 47 Liquefi ed natural gas (LNG) 23 Exploration & production 48 Natural gas 24 Vitol Foundation 50 Power 26 Our worldwide capabilities 52 Coal 28 VITOL 02 Vitol is at the heart of the world’s For 50 years Vitol has served the energy fl ows. Every day we use world’s energy markets; trading over our expertise and logistical six million barrels of crude oil and networks to distribute energy products a day and delivering energy around the world, effi ciently products to countries worldwide. and responsibly. Our customers include national oil companies, multinationals, leading industrial and chemical companies and the world’s largest airlines. We deliver the products they need on time and to specifi cation, by sourcing and managing the movement of energy through the relevant infrastructures. Responsibility Handling energy products is a heavy responsibility and one we take very seriously. All our assets operate to high international HSE standards and we expect the same of our partners throughout the energy chain. VITOL 03 VITOL Vitol at a glance 04 Trading, logistics and Refi ning Terminals, storage and distribution We are invested in fi ve refi neries infrastructure The core of our business is worldwide and have a total refi ning Our 18.1 million cubic metres of the distribution of energy. The capacity of 390,000 barrels per owned storage capacity, in addition combination of our expertise and day. Furthermore, we supply 3.4 to our leased capacity worldwide, our presence in markets globally million barrels per day of crude oil enables us to store and blend enables us to identify optimal and feedstocks to refi ners globally, bespoke combinations. Customers solutions for our clients. using our extensive networks and benefi t from optimised feedstock expertise to identify optimal supply. and products, as well as fl exibility Our business is built upon long- and choice. standing relationships with producers, refi ners and industrial customers. 200 vessels 3.4m bpd 18.1m m3 transporting our cargoes supplied to refi ners worldwide of storage across six continents at sea at any one time VITOL 05 Marketing and downstream Exploration and production Investing strategically We have an expanding downstream Our highly experienced exploration and We have a growing portfolio presence which continues to grow production (E&P) team works closely of strategic energy assets that both organically and through strategic alongside the rest of the business, complement the broader business. acquisitions. It comprises over 2,300 providing advice and technical We focus on quality assets and have Shell branded service stations in expertise to initiatives involving energy a long history of investing signifi cant Africa and Australia, as well as 5.7 reserves or similar assets. sums to upgrade and improve the million tonnes of jet fuel into wing at assets’ performance. 60 airports worldwide and a growing In addition, we are working with the B2B business. World Bank, Eni and GNPC on the development of the Sankofa gas fi elds. Part of the largest foreign direct investment in Ghana since independence, the project will provide enough gas to power Ghana’s thermal power sector until 2036. 5.7m 20+ 1,240 mw tonnes of jet fuel into wing years’ experience VPI Immingham – capable of at 60 airports worldwide generating 1,240 mw per hour VITOL A partner for the long-term 06 Market leader A strong, stable fi nancial Proven partner We are the largest independent and ownership model We work collaboratively with our trader of energy, trading over six Our unique ownership model enables customers and partners to identify million barrels a day of crude oil us to take a long-term outlook and implement optimal solutions. and products. This market-leading and incentivises us to take a very We invest in long-term partnerships position is underpinned by our measured approach to risk. This, and understand that the commercial fi nancial and technical expertise and coupled with our strong liquidity context can vary over time. a long-held reputation for reliability and risk management discipline, and quality. has resulted in a strong and stable fi nancial base. VITOL 07 A local presence, globally Risk management Responsible operations Our customers and their requirements We take a measured and We appreciate the risks involved are as diverse as the world in which conservative approach to our risk in our sector and take our we live. Our colleagues comprise management. We have expertise responsibilities extremely seriously. over 60 nationalities located in over in the use of exchange-traded and We seek to conduct our business 40 offi ces worldwide. OTC derivatives which we utilise to in line with the ten principles of minimise price risk on the physical the UN Global Compact and to commodities and the energy work with partners who share our we supply. commitment to high international standards of operation. VITOL Operating globally 08 The Americas Europe supply Europe’s power sector and Vitol has a long-established From a number of key locations are actively involved in regional LNG, presence across the Americas. around Europe, our European gas and power markets. From our main offi ce in Houston, operations work closely with offi ces we manage trade fl ows within and worldwide, supplying crude and Middle East to and from the continent, using our products to European refi neries, With a history of working closely with extensive network of storage and industrials and retail networks. national oil companies (NOCs) across infrastructure to optimise the fl ow of As well as a signifi cant physical the region, Vitol also has the only crude oil and petroleum products. presence in key energy hubs within independent, long-standing refi nery in We are also a major participant in the region, we are invested in three Fujairah. We serve both regional and other key markets, including power European refi neries and a diverse long haul markets, including Africa, and gas. portfolio of storage assets. We also and our global network enables VITOL 09 us to help balance Middle Eastern investing in infrastructure and have a customers across the region. Our incremental production across the growing downstream platform, with global trading network enables us regional refi ning system. more than 1,600 service stations to source the optimal feedstocks and over one million cubic metres of for the region’s refi ners, serve the Africa storage across 16 countries in Africa, needs of industrial companies We have a growing footprint in as well as a unique gas-to-power and ensure the timely delivery of Africa. We work closely with NOCs project in Ghana, in collaboration with petroleum products to growing across the continent to help them Eni, the World Bank and GNPC. consumer markets. We are also optimise the value of their crude oil invested in the Geelong refi nery and and to provide an effi cient and reliable Asia Pacifi c the second largest downstream supply of key products to these From our network of offi ces, business in Australia, with over growing markets. In addition, we are we serve the energy needs of 900 service stations. Trading portfolio TRADING We sit at the heart of global With over 40 offi ces worldwide and In all our physical operations energy fl ows, moving energy a network of teams globally, we we seek to work with partners and bulk materials from source understand that every market which share our commitment to customer as quickly, is different. We work with our to high international standards responsibly and cost-effectively customers to identify and develop of operation. The infrastructure 10 as possible. solutions which work best for them, upon which we rely, from ships to helping them manage physical jetties and storage, is subject to Our business is founded on the risk and optimise opportunities. our due diligence processes. long-term relationships we’ve built with our customers, on our Our trading presence is underpinned expertise, market understanding by a complementary infrastructure: and reputation for reliably refi ning, storage, distribution delivering the required and a marketing network across products, on time and six continents. on specifi cation. TRADING 11 303m tonnes of crude and 200+ 6,629 products traded in 2015 vessels at sea at any one time ship journeys undertaken in 2015 Crude oil TRADING Our crude trading business has We transact in over 100 different Partnering with producers long-standing relationships with grades of crude oil in locations Our market-leading team combines producers and refi ners in every spread around the globe. We are both specialist knowledge with global part of the world. We help the active in all major centres where expertise. Over many years we have former to effectively market and crude is produced, refi ned and established long-term relationships 12 distribute their daily production, traded, enabling our customers to with national oil companies, oil and the latter to secure a benefi t from critical intelligence and majors and independent producers. reliable and consistent supply access to the most appropriate We use our expertise in managing of the right quality crude at the market. As a physical trader, we transportation via pipeline, barge, right time.