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Vitol
Vitol is a Swiss-based multinational energy and commodity trading company that was founded in Rotterdam in 1966 by Henk Viëtor and Jacques Detiger. Though trading, logistics and distribution are at the core of its business, these are complemented by refining, shipping, terminals, exploration and production, power generation, and retail businesses. Vitol has 40 offices worldwide and its largest operations are in Geneva, Houston, London, and Singapore. With revenues of $279 billion in 2021, Vitol is the largest independent energy trader in the world, and would be the sixth largest company worldwide as measured by revenue on the ''Fortune'' Global 500 list. Given the secrecy Vitol maintains around all its business activities and the limited nature of its statutory disclosures, it is excluded from rankings. The company, however, does provide some more financial information to its lenders and to a few other entities with which it trades. The company ships more than 350 million tonne ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Russell Hardy
Russell Hardy is a British businessman, and the chief executive (CEO) of Vitol, the world's largest independent oil trading company. Early life Hardy has a master's degree in engineering from Imperial College London. Career Hardy began his career working for BP, trading fuel oil. In 1993, Hardy left BP and joined Vitol. He has been a member of its executive committee since 2007, and CEO of the Europe, Middle-East and Africa region since 2017. In March 2018, he was appointed CEO of the entire company, succeeding Ian Taylor (British businessman), Ian Taylor, who became chairman. In 2022, Hardy predicted that Russia won't be able to protect itself from the negative effects of the Western sanctions, while Russian oil export would fall to 1 million barrels a day in winter 2022-2023. References Living people British chief executives Alumni of Imperial College London Year of birth missing (living people) {{UK-business-bio-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rotterdam
Rotterdam ( , , , lit. ''The Dam on the River Rotte'') is the second largest city and municipality in the Netherlands. It is in the province of South Holland, part of the North Sea mouth of the Rhine–Meuse–Scheldt delta, via the ''"New Meuse"'' inland shipping channel, dug to connect to the Meuse first, but now to the Rhine instead. Rotterdam's history goes back to 1270, when a dam was constructed in the Rotte. In 1340, Rotterdam was granted city rights by William IV, Count of Holland. The Rotterdam–The Hague metropolitan area, with a population of approximately 2.7 million, is the 10th-largest in the European Union and the most populous in the country. A major logistic and economic centre, Rotterdam is Europe's largest seaport. In 2020, it had a population of 651,446 and is home to over 180 nationalities. Rotterdam is known for its university, riverside setting, lively cultural life, maritime heritage and modern architecture. The near-complete destruction ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Price Of Oil
The price of oil, or the oil price, generally refers to the spot price of a barrel () of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil, Isthmus and Western Canadian Select (WCS). Oil prices are determined by global supply and demand, rather than any country's domestic production level. The global price of crude oil was relatively consistent in the nineteenth century and early twentieth century. This changed in the 1970s, with a significant increase in the price of oil globally. There have been a number of structural drivers of global oil prices historically, including oil supply, demand, and storage shocks, and shocks to global economic growth affecting oil prices. Notable events driving significant price fluctuations include the 1973 OPEC oil embargo targeting nations that had supported Israel during the Yom Kippur War ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Geneva
Geneva ( ; french: Genève ) frp, Genèva ; german: link=no, Genf ; it, Ginevra ; rm, Genevra is the List of cities in Switzerland, second-most populous city in Switzerland (after Zürich) and the most populous city of Romandy, the French-speaking part of Switzerland. Situated in the south west of the country, where the Rhône exits Lake Geneva, it is the capital of the Canton of Geneva, Republic and Canton of Geneva. The city of Geneva () had a population 201,818 in 2019 (Jan. estimate) within its small municipal territory of , but the Canton of Geneva (the city and its closest Swiss suburbs and exurbs) had a population of 499,480 (Jan. 2019 estimate) over , and together with the suburbs and exurbs located in the canton of Vaud and in the French Departments of France, departments of Ain and Haute-Savoie the cross-border Geneva metropolitan area as officially defined by Eurostat, which extends over ,As of 2020, the Eurostat-defined Functional Urban Area of Geneva was made up of 9 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gasoline
Gasoline (; ) or petrol (; ) (see ) is a transparent, petroleum-derived flammable liquid that is used primarily as a fuel in most spark-ignited internal combustion engines (also known as petrol engines). It consists mostly of organic compounds obtained by the fractional distillation of petroleum, enhanced with a variety of additives. On average, U.S. refineries produce, from a barrel of crude oil, about 19 to 20 gallons of gasoline; 11 to 13 gallons of distillate fuel (most of which is sold as diesel fuel); and 3 to 4 gallons of jet fuel. The product ratio depends on the processing in an oil refinery and the crude oil assay. A barrel of oil is defined as holding 42 US gallons, which is about 159 liters or 35 imperial gallons. The characteristic of a particular gasoline blend to resist igniting too early (which causes knocking and reduces efficiency in reciprocating engines) is measured by its octane rating, which is produced in several grades. Tetraethyl lead and o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liquid Natural Gas
Liquefied natural gas (LNG) is natural gas (predominantly methane, CH4, with some mixture of ethane, C2H6) that has been cooled down to liquid form for ease and safety of non-pressurized storage or transport. It takes up about 1/600th the volume of natural gas in the gaseous state (at standard conditions for temperature and pressure). LNG is odorless, colorless, non-toxic and non-corrosive. Hazards include flammability after vaporization into a gaseous state, freezing and asphyxia. The liquefaction process involves removal of certain components, such as dust, acid gases, helium, water, and heavy hydrocarbons, which could cause difficulty downstream. The natural gas is then condensed into a liquid at close to atmospheric pressure by cooling it to approximately ; maximum transport pressure is set at around (gauge pressure), which is about one-fourth times atmospheric pressure at sea level. The gas extracted from underground hydrocarbon deposits contains a varying mix of hy ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liquid Petroleum Gas
Liquefied petroleum gas (LPG or LP gas) is a fuel gas which contains a flammable mixture of hydrocarbon gases, specifically propane, propylene, butylene, isobutane and n-butane. LPG is used as a fuel gas in heating appliances, cooking equipment, and vehicles. It is increasingly used as an aerosol propellant and a refrigerant, replacing chlorofluorocarbons in an effort to reduce damage to the ozone layer. When specifically used as a vehicle fuel, it is often referred to as autogas or even just as gas. Varieties of LPG that are bought and sold include mixes that are mostly propane (), mostly butane (), and, most commonly, mixes including both propane and butane. In the northern hemisphere winter, the mixes contain more propane, while in summer, they contain more butane. In the United States, mainly two grades of LPG are sold: commercial propane and HD-5. These specifications are published by the Gas Processors Association (GPA) and the American Society of Testing and Materi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Naphtha
Naphtha ( or ) is a flammable liquid hydrocarbon mixture. Mixtures labelled ''naphtha'' have been produced from natural gas condensates, petroleum distillates, and the distillation of coal tar and peat. In different industries and regions ''naphtha'' may also be crude oil or refined products such as kerosene. ''Nephi'' and ''naphthar'' are sometimes used as synonyms. It is also known as Shellite in Australia. Etymology The word ''naphtha'' is from Latin and Ancient Greek (νάφθα), derived from Middle Persian ''naft'' ("wet", "naphtha"), the latter meaning of which was an assimilation from the Akkadian ''napṭu'' (see Semitic relatives such as Arabic ''nafṭ'' petroleum" Syriac ܢܰܦܬܳܐ ''naftā'') and Hebrew נֵפְט ''neft'' (meaning petroleum). In Ancient Greek, it was used to refer to any sort of petroleum or pitch. There is a hypothesis that the word is connected with the name of the Indo-Iranian god Apam Napat, which occurs in Vedic and in Avestic; ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Carbon Emissions
Greenhouse gas emissions from human activities strengthen the greenhouse effect, contributing to climate change. Most is carbon dioxide from burning fossil fuels: coal, oil, and natural gas. The largest emitters include coal in China and large oil and gas companies, many state-owned by OPEC and Russia. Human-caused emissions have increased atmospheric carbon dioxide by about 50% over pre-industrial levels. The growing levels of emissions have varied, but it was consistent among all greenhouse gases (GHG). Emissions in the 2010s averaged 56 billion tons a year, higher than ever before. Electricity generation and transport are major emitters; the largest single source, according to the United States Environmental Protection Agency, is transportation, accounting for 27% of all USA greenhouse gas emissions. Deforestation and other changes in land use also emit carbon dioxide and methane. The largest source of anthropogenic methane emissions is agriculture, closely followed by g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Privately Held Company
A privately held company (or simply a private company) is a company whose shares and related rights or obligations are not offered for public subscription or publicly negotiated in the respective listed markets, but rather the company's stock is offered, owned, traded, exchanged privately, or Over-the-counter (finance), over-the-counter. In the case of a closed corporation, there are a relatively small number of shareholders or company members. Related terms are closely-held corporation, unquoted company, and unlisted company. Though less visible than their public company, publicly traded counterparts, private companies have major importance in the world's economy. In 2008, the 441 list of largest private non-governmental companies by revenue, largest private companies in the United States accounted for ($1.8 trillion) in revenues and employed 6.2 million people, according to ''Forbes''. In 2005, using a substantially smaller pool size (22.7%) for comparison, the 339 companies on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Methanol
Methanol (also called methyl alcohol and wood spirit, amongst other names) is an organic chemical and the simplest aliphatic alcohol, with the formula C H3 O H (a methyl group linked to a hydroxyl group, often abbreviated as MeOH). It is a light, volatile, colourless, flammable liquid with a distinctive alcoholic odour similar to that of ethanol (potable alcohol). A polar solvent, methanol acquired the name wood alcohol because it was once produced chiefly by the destructive distillation of wood. Today, methanol is mainly produced industrially by hydrogenation of carbon monoxide. Methanol consists of a methyl group linked to a polar hydroxyl group. With more than 20 million tons produced annually, it is used as a precursor to other commodity chemicals, including formaldehyde, acetic acid, methyl tert-butyl ether, methyl benzoate, anisole, peroxyacids, as well as a host of more specialised chemicals. Occurrence Small amounts of methanol are present in normal, healthy hu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Sanctions During The Russo-Ukrainian War
International sanctions have been imposed against Russia and Crimea during the Russo-Ukrainian War by a large number of countries, including the United States, Canada, the European Union, and international organisations following the Russian annexation of Crimea, which began in late February 2014. Belarus has also been sanctioned for its cooperation with and assistance to Russian armed forces. The sanctions were imposed against individuals, businesses, and officials from Russia and Ukraine. Russia responded with sanctions against several countries, including a total ban on food imports from Australia, Canada, Norway, Japan, the United States, and the EU. The sanctions contributed to the collapse of the Russian ruble and worsened the economic impact of the 2022 Russian invasion of Ukraine. They also caused economic damage to the EU economy, with total losses estimated at €100 billion (). , Russia's finance minister announced that the sanctions had cost Russia $40 bill ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
