Oil trader Vitol doubles average pay on record US$15bil profit

GENEVA: Vitol Group doubles the amount its employees earned last year as it notched up record profit of US$15.1bil (RM70bil) thanks to the wild swings in energy markets caused by Russia’s invasion of Ukraine.

The trading house paid an average of just over US$785,000 (RM3.6mil) each in salary and bonuses to its 3,311 employees, compared with the previous year’s average of US$394,000 (RM1.8mil), according to the company’s audited annual accounts seen by Bloomberg News.