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Vitol Group revenue grew by 36% in 2010
Alla Petrova, BC, Riga, 23.02.2011.
Print version
Print versionIn 2010, Vitol Group’s, the largest shareholder in the joint-stock company Ventspils nafta, revenue increased by 36% and reached USD 195 billion (LVL 101.4 billion), compared to USD 143 billion (LVL 74.4 billion) in 2009, according to the company's annual report.
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The company's revenue grew due to the increase in sales and a higher average "Brent" oil price – USD 79.5 (LVL 41.3) per barrel, compared to USD 62 (LVL 32.2) per barrel in 2009, writes LETA.
Vitol Group sales of oil and its products increased 25% in 2010 and amounted to 394 million metric tons, compared to 316 million metric tons in 2009. The company sales of crude oil, electricity and natural gas increased.
Vitol Tank Terminals International (VTTI), the terminal and infrastructure asset group within Vitol Group, and company's research and production sectors also experienced growth in 2010.
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