Energy trader salary houston
Vitol has 40 offices worldwide and its largest operations are in Geneva, Houston, London, and Singapore. But the company does provide financial information to its lenders and some energy groups with which it trades. On average it handles more than 7 million barrels a day of oil and products - roughly equivalent to the daily consumption of Japan - the world's third largest oil consumer after the United States and China.
Vitol is a private company which is owned significantly by a proportion of its employees, who are known for their culture of privacy and secrecy, from both competitors and the general public. In addition to the global crude and product trading businesses, the company trades coal , natural gas , power, ethanol , methanol , gasoline, LNG , LPG , naphtha , bitumen, base oils and carbon emissions. In total, Vitol has around 16 million cubic meters of storage capacity across the globe.
In January Vitol acquired a stake in a subsidiary of the South African shipping firm Grindrod, which gives it access to a coal terminal in Mozambique. FRCL has further development plans in place, which include a , cubic meter expansion of the tank farm, refurbishment of existing refining units and the installation of additional processing units.
The purchase included Shell's Geelong Refinery and its site retail business, along with its bulk fuels, bitumen, chemicals and part of its lubricants businesses in Australia.
The contract is expected to help meet Ghana's burgeoning energy needs. The combined heat and power plant CHP is one of the largest of its kind in Europe, capable of generating 1, MW and up to tonnes of steam per hour which is used by nearby refineries. The gas-fired plant provides approximately 2.
In , Vitol traded: In , Vitol pleaded guilty to grand larceny in a New York court for paying surcharges to Iraq's national oil company during Saddam's regime and circumventing the UN oil-for-food program. According to an article in the Financial Times, Vitol was the company to organise the first controversial sale of Libyan rebel oil to Tesoro Corporation in early April In September , an article in Reuters alleged that the company had bought and sold Iranian fuel oil, bypassing an EU embargo against Tehran.
Vitol bought 2 million barrels using a ship-to-ship transfer off the coast of Malaysia from a National Iranian Tanker Company vessel and sold it to Chinese traders. The article stated that as Vitol is based in Switzerland, which did not implement Western sanctions, Vitol had skirted the charges. In , The Telegraph alleged that the company had been using for over a decade an Employee Benefit Trust, avoiding paying income tax for its UK staff. From Wikipedia, the free encyclopedia.
You can work as a logistics and certification manager, power trader, settlement analyst, oil trader, senior structurer etc. Skills such as good understanding of the market flow, administrating and management are some of the basic requirements for this role. A good trader should have both - generic knowledge of financial products as derivatives are involved , and detailed idea of the specific commodity he deals in. Our terms and conditions have been updated; click here to read them.