Sources say that Vitol profits will drop to $4.5 billion by 2025.
Two sources familiar with the results said that energy trader Vitol had a net income of $4.5 billion by 2025. This is a significant drop from the stellar earnings achieved in 2022-2024, but still the fourth highest yearly result for the company.
Vitol, a privately held company, does not release full financial results. However, in March the company reported that its revenue increased by 3.6% last year to $343 billion and it had traded 11% more energy and oil products than it did in 2024.
Before the Russian invasion of Ukraine, the annual earnings for the world's largest trader in energy typically ranged between $1 billion to $4 billion. However, the market volatility created by the invasion caused the earnings to rise to $15 billion by?2022, $13 in 2023 and $8 in 2024.
In 2025, earnings will still be higher than in any year before 2022. This is a significant improvement over 2021 when the group earned around $4 billion. Vitol has made $45 billion over the past five years.
The majority of commodity trading firms described the year 2025 as calmer and more challenging. Trafigura reported a profit of $2.7 Billion for the financial period through September 2025. Mercuria posted income of $1.43 Billion and Gunvor only $104 MILLION.
This year, the?earnings? of these trading companies will be in the spotlight again as they are tested in their ability to supply?global market in times of stress by the U.S. - Iran war.
Trafigura made $4.1 billion in the period between October and March. This is the first time that a major trading company has reported its results since the beginning of the Iran war on February 28.
Jay Ng, Vitol's Chief Financial Officer, said that the company was on track to achieve good earnings in the first months of 2026. The company's record earnings have been used to invest in new markets and assets, as well as pay dividends.
Vitol didn't immediately respond to the request for comment. (Reporting and writing by Dmitry Zhdannikov, Editing by David Holmes; Robert Harvey is the writer.
(source: Reuters)
