Vitol Says Oil, LNG Deliveries Up Year-on-Year

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Written by Daniel Graeber for IIR News Intelligence (Sugar Land, Texas)

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Summary

Vitol on Wednesday celebrated its 60th anniversary by announcing an increase in product deliveries. An expanding portfolio for crude oil, natural gas and other products is valued at more than $13 billion.

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Petroleum Deliveries Increase for Vitol

Swiss commodity trader Vitol on Wednesday marked its 60th anniversary by announcing crude oil and product deliveries jumped 11% annually to 2025.

Vitol said its approach to financial and portfolio management allowed it to weather various storms over the last 60 years, from wars to recessions and pandemics.

"Today this portfolio stands at $13+billion and underpins our primary business of moving energy and commodities around the world, safely and efficiently," the company said.

Vitol said it was the oil and refined petroleum products sector that was the core of its focus. Last year, the company delivered an average of 8 million barrels of oil per day (BBL/d), an 11% increase from 2024 levels.

In a long-term market outlook published last month, Vitol said that demand for crude oil is expected to stay strong due in part to the moderation in the electric vehicle (EV) sector.

The company said road transportation is the primary factor determining the trajectory for global oil demand, and the slowdown in the uptake of EVs is taking a toll on demand. In the U.S. vehicle market, the Energy Information Administration (EIA), part of the U.S. Department of Energy, said EV sales surged during the first half of 2025, but then dropped off dramatically in September due to the expiration of tax credits.

Filling the LNG Void?

Vitol recently signed a binding offtake agreement to secure 1.5 million tons per annum (MTPA) of liquefied natural gas (LNG) with U.S.-based Venture Global for a five-year period starting this year. LNG markets are increasingly tight given the war raging in the Middle East, with QatarEnergy hobbled by an estimated $20 billion per year loss in revenue because of airstrikes on its production facilities.

"The suffering and loss of life in conflict is always tragic and our thoughts are with our colleagues and the many people throughout the Middle East who are working in extremely difficult and dangerous conditions to try and enable the flow of energy to global markets," Vitol said.

Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Project and Plant databases can learn more about Venture Global--including its plant and project portfolios--in a detailed profile.

Vitol on Wednesday said its annual volumes of LNG jumped 28% from 2024 levels to reach 25.3 million tons. Last year, the company said it was supported by long-term partnerships across the sector, from the Middle East to the Americas. The United States is the largest LNG exporter in the world, with Qatar and Australia close behind.

In Other News

Apart from conventional energy, Vitol said it was looking at various forms of renewable natural gas as a potential resource in the transportation sector.

Vitol said the pace of global gasoline demand growth is expected to reach its peak sometime in the early 2030s as electrification advances and efficiencies improve. By the mid-2040s, global gasoline demand is expected to be about 1.8 million BBL/d lower than current levels.

Subscribers have access to a detailed corporate profile of Vitol.

By the Numbers

• 11% increase in oil and product deliveries
• 28% in LNG send out

Key Takeaways

• Deliveries higher across the board for Vitol.
• Its portfolio for crude oil, natural gas and other products is valued at more than $13 billion.

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About IIR News Intelligence
IIR News Intelligence is a trusted source of news for the industrial process and energy markets, powered by Industrial Info Resources' Global Market Intelligence (GMI).

About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 250,000 current and future projects worth $30.2 Trillion (USD).