Banking

Oil traders at Vitol share record bonus of £2.1bn, boosted by market volatility

Oil traders at Vitol share record bonus of £2.1bn, boosted by market volatility during coronavirus pandemic

Oil traders at Vitol have shared a record bonus of £2.1billion, boosted by market volatility during the coronavirus pandemic. 

The Geneva-based commodities giant celebrated its best-ever results last year – and is sharing out the plunder among around 350 of its top staff. 

Boost: The Geneva-based commodities giant celebrated its best-ever results last year – and is sharing out the plunder among around 350 of its top staff

Vitol rewards those top employees and executives who own the company by buying back portions of their shares every year. 

This year’s sum averaged out at around £6m per person, Bloomberg reported. 

Vitol, which trades more than 7m barrels of oil products every day, capitalised on wild swings in the oil market last year.

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