Vitol's 2015 Revenue Sinks 38% to $168 Bln
Photo: Vitol
Vitol's 2015 revenue fell 38 percent to $168 billion in "challenging" market conditions, the commodity trader said on Tuesday.
The world's largest independent energy trader's sharp fall in revenue came despite traded volumes of crude oil and products rising 13 percent to 303 million tonnes.
"Whilst the market structure favours a physical trader, the absolute price levels and market volatility are causes for caution," Ian Taylor, president and CEO of Vitol said.
(Reporting by Sarah McFarlane, editing by Louise Heavens)
