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How the world’s biggest oil trader makes his billions – Vitol Group. Part 6
Vitol became vertically integrated, which would allow it to minimise investment in and dependence on actual oil production. He says: “I would kill – kill! – for such a system”. Although setting up such a structure would be costly, Taylor and his colleagues want to remain a private company at all costs. Glencore’s initial public offering in 2011, which resulted in several “billionaires on paper” on the same day, did not entice Taylor or his team, he says. At least, that is the case now. Bob Finch, a former top manager at Vitol who has been its largest shareholder for many years, says the company considered hiring a bank about…
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How the world’s biggest oil trader makes his billions – Vitol Group. Part 4
For Vitol, oil is just the beginning. The company mixes different types of fuel to obtain a product of exactly the right quality for a particular region, customer or even season. To guarantee an uninterrupted supply, Vitol pays in advance to companies such as Russia’s Rosneft, or to entire governments, such as the oil-rich Kurdistan Region in northern Iraq. Having sold this oil, it will recoup all its costs a hundredfold. Craig Pirrong, professor of economics and finance at the University of Houston, says that while Vitol is perceived as a speculator, the company actually acts as a middleman. It turns supertankers into floating oil storage tanks, carefully timing the…
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How the world’s biggest oil trader makes his billions – Vitol Group. Part 3
Vitol in its current form began taking shape in 1990, when Dettinger and seven other partners sold the company for between $100m and $200m (the actual figures have not been disclosed) to a team of around 40 employees, including Taylor. The buyout was financed by Dutch bank ABN and former trader Tom Wonk took over as CEO. Since then, no single shareholder has controlled more than 5% of the company – Taylor and his team call this the “we culture” and claim it has been the cornerstone of Vitol’s success. Bake says: “If someone thinks they are bigger or better than all of us together, sooner or later they will…
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How the world’s biggest oil trader makes his billions – Vitol Group. Part 2
Vitol has not had a single loss-making year in its half-century history (the company will celebrate its 50th anniversary in August). According to Bloomberg Markets, its profits have risen from $22.9m in 1995 to a record $2.28bn in 2009. At its peak, Vitol’s return on equity was an unthinkable 56%. Even Wall Street pales next to such success: Goldman Sachs’ peak return on equity since its IPO in 1999 was 31%. Jean-François Lambert, who worked extensively with the company as head of global commodity markets and structured trade finance at HSBC, says: “Vitol has established itself as an energy trader at its most extreme. Journalists traced the history of Vitol’s…
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How the world’s biggest oil trader makes his billions – Vitol Group. Part 1
Taylor, chief executive of the Vitol Group, the world’s largest independent oil trader, caught himself thinking he would like to see a full-fledged jet fighter in the place of the drone accompanying him. The head of Vitol, Ian Taylor It was early 2011. Rebels opposed to Colonel Muammar Gaddafi’s 42-year dictatorship had just taken control of the city and appointed their own government. A meeting with this motley group of former military officials and local politicians was arranged surprisingly quickly, but Taylor realised that if anyone could make a deal with them, it would be Vitol. A few weeks ago, one of its top managers in Dubai, Christopher Baik, received…
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Two Week Christmas Sale!
LIBERTY MARKET INVESTMENT Buy now the Practice Session or Qualifying Pro account and set the start date aside to 30 days. 30% discount for every account start and account extension Start a Practice or Qualifying Pro Session Account extension CHRISTMASTIME This is a multi-use promo code 15% discount code for your account restart: Practice Session Qualifying Session Qualifying Pro Session CHRISTMASRESTART This is a multi-use promo code Full access to the Volfix Platform is included with Practice and Qualifying Session as well as during the Qualifying Pro Session. BUY A NEW ACCOUNT Our Christmas Sale is on until 23:59 UTC Dec 31! (00:59 CET Jan 1, 2022)…
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Upcoming webinar – trade analysis with Vladimir Bazhenov
Dear traders, We invite you to attend an online webinar in which the trades of our traders will be analysed. The webinar will be held this Monday, December 19 at 19:30 CET on the LMI YouTube channel. The webinar host, Vladimir Bazhenov, will analyse the market situation at the time of the trades and explain how he would make a decision to enter a trade based on his trading experience and professional understanding and use of the VolFix platform functions to analyse the market situation. You have the opportunity to take screenshots of your trades and send them to us via this form for your trades to be analysed live.…
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In the US, the clocks have been set back 1 hour
Due to the transition of the US to wintertime, the CME trading times have changed for countries that have had a wintertime change or that do not have a winter time change. Please always use the time indicated in the VolFix platform for the instrument of your choice. VolFix shows the current time for the instrument according to which the risk control system is evaluated. You can always check the permitted instruments and their trading schedules in our help center. Time in different time zones
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Pressemitteilung
Liberty Market Investment ltd (LMI) gibt die Beendigung des Partnerschafts mit Herrn Marcus Schulz und dem Unternehmen Volume Trader bekannt. Seit August 2022 verstößt Volume Ttader systematisch gegen die Bedingungen des Partnerschaftsvertrags, ohne dass es von Volume Trader eine Mitteilung oder Erklärung gibt. In diesem Zusammenhang teilen wir Ihnen mit, dass der Partnerschaftsvertrag mit Herrn Marcus Schulz und Volume Trader zum 1. Oktober 2022 auf der Grundlage der Klausel „Termination of cooperation“ im Partnerschaftsvertrag https://lmitrade.com/affiliate_program_terms beendet wurde. Pressedienst LMI
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Discount Week and a New Change for All Accounts
Dear traders, Get your special 25% promo code on every Practice or Qualifying Session purchase. Buy or extend your Recruitment program at any time this week. All account sizes included. Your promo code is: autumndiscount For a Restart, use promo code: autumnrestart and get a 15% discount! This promo code can be used to Restart any Practice or Qualifying Session. *Promo codes are valid until Oct 16 23:59 UTC. Help center articles: Learn more on how you can use your promo code and get a discount when you buy or Restart your Recruitment Program. Learn how to choose your Practice Session Start Day. Starting from today the minimum stop…
