Sources say that Vitol profits will drop to $4.5 billion by 2025.

Two sources said that energy trader 'Vitol' achieved a net income of $4.5 billion in 2025. This is a sharp drop from the stellar earnings the company had between 2022-2024, but still the fourth highest annual result the company has ever recorded. Vitol, a privately held company, does not release full financial results. However, in March the company reported that its revenue had risen by 3.6% last year to $343 billion and that it had traded 11% more energy and oil products than it did?in 2024.

The world's largest energy trading firm typically earned between $1 billion to $4 billion annually. However, the Russian invasion of Ukraine caused exceptional market volatility that pushed the firm's earnings up to $15 billion in 2020, $13 billion by 2023, and $8 billion around 2024.

In 2025, earnings will still be higher than in 'any year prior to 2022 and over 2021 when the group earned?around $4 Billion. Vitol has made $45 billion over the past five years.

Vitol declined comment. Most commodity trading firms that thrive on volatility described 2025 as being a calmer, more challenging year. 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 focus as the U.S. and Israeli?war against Iran tests their ability to supply global markets during a time of heightened stress. Trafigura's $4.1 billion in earnings between October and February is the first time a major trading company has shown its results since the Iran conflict began on February 28. Jay Ng, Vitol's Chief Financial Officer, said that the group was on a?good trajectory? for the first months of 2026. The company has invested its record earnings in new markets and assets as well as dividends. (Reporting and writing by Dmitry Zhdannikov, Robert Harvey; editing by David Holmes and Emelia Matarise).

(source: Reuters)