LNG

March 26 (LNGJ) – Vitol Group, the Geneva, Switzerland-based global commodities and energy trader, said the liquefied natural gas market was evolving as anticipated and the firm’s trading volumes grew during 2017 to 7.4 million tonnes of LNG. “Vitol continues to perform solidly,” said Chairman Ian Taylor. “Overall volumes held steady at just over 7 million barrels per day and turnover rose to $181 billion on the back of an increase in the average oil price over the course of the year,” added the Chairman. “Challenging market conditions required a constant focus on careful risk and margin management, though strong demand growth was supportive of volumes and the performance of our investment portfolio,” he said.

March 24 (LNGJ) - Vitol, the global commodities company and energy trader with LNG interests, returned solid earnings despite challenging market conditions. “Volumes continued to grow, both in crude and products and we now trade in excess of 7 million barrels per day,” said Ian Taylor, Chairman and Chief Executive. “Despite the increase in volumes, a lower average oil price over the course of 2016 caused turnover to fall to $152 billion. We maintain our long-held strategy of conservatively managing capital and risks and will continue to build the business on these grounds, whilst remaining mindful of both counterparty and credit risks,” added Taylor.