After weeks of investigation, the U.S. Futures Trading Commission (CFTC) discovered a hidden and deep mysterious bookmaker - The Wido Group The survey revealed that the mysterious bookmaker held positions of up to 460 million barrels of oil. On the light oil product alone, 330 million barrels are held, accounting for 11% of the total position in the entire U.S. nymex futures market. Cftc had unconventionally asked For Data from Wido Energy to discover a shocking secret: financial institution speculators held about 81% of the Oil Contracts of the New York Mercantile Exchange for their customers or themselves!
Founded in 1966 in Rotterdam, the Netherlands, and now headquartered in Switzerland, Vitol Group is the world's largest independent crude oil trading company, the world's largest independent crude oil trading company.
Widdo's business is more than 24 times that of Samsung, yet it employs only one percent of Samsung (about 5,000 employees worldwide). The company has no listed shares and is rarely known. The company is only involved in the energy industry. The company has annual revenues of $303 billion (the largest private company in operating income) and has 17 million cubic meters of storage for storing oil, coal, natural gas and other energy sources. Even more so, the company could sell ISIS oil to the United States.
According to the performance figures provided by The Victor Group, it had operating revenues of US$303 billion in 2012 (the private company with the largest operating income). In terms of sales revenue, it is the world's largest private company, surpassing cargill and Kochindustries, which are also private giants. If Vieto goes public, its reported operating income would be ranked 7th on the 2012 Fortune Global 500 list, ahead of Chevron and Toyota. Profits in the trading industry are as thin as a knife's edge, but the company has only about 350 shareholders.
As staggering as the numbers are, even many people in the oil industry find Victor a mystery. The most listened to is: although the name Wido is known, I really don't know much about them."
How big is The Vido Group? You can think of this company as an invisible hand driving the global energy market. The company is mainly engaged in the physical trade of oil, and there is more than enough to make up for the losses between regions. This means that The Wido Group goes far beyond betting on the future trend of crude oil through derivatives. The company buys and sells more than 5 million barrels of genuine crude oil every day.
To do this, excellent logistics capabilities are required. Each year, the Victor Group charters more than 5,500 sea voyages. At every moment, it sails more than 200 tankers at sea, carrying tens of millions of dollars worth of cargo. These ships can face a variety of dangers, including piracy, typhoons and, more common but still costly situations: delays caused by mechanical or weather reasons.
Wido is the largest of these companies, with a class of trading companies that specialize in filling gaps between big oil companies like Shell and Exxon, state-owned oil producers and hundreds of small competitors around the world. With the collapse of the original integrated oil system, this type of trade has grown over the past few decades.
The amount of energy traded by Vitour — with the exception of crude oil, including gasoline, natural gas, aviation fuel, coal, and so on — has severally doubled in less than 20 years. In addition, The white sugar trade volume of Wido Group accounts for 7% of the world.
In this great game, Vitol's most powerful competitor is the Swiss commodities trader Glencore. The firm was formed by former partner Markrich.
The Wido Group plays a role of matchmaking around the world, trading around the world, often in countries where other companies are reluctant to work (political instability). In recent years, Wido has begun to acquire or develop physical assets in countries around the world, including the United States, including refineries, terminal facilities, pipelines, etc.
The beginning of Vitol's holding of assets is also a product of the general environment of the oil industry. Major oil companies are constantly divesting low-margin "downstream" businesses, focusing on high-margin upstream extraction projects. Vitol and its peers are snapping up such assets in droves to add flexibility to themselves — a philosophy they call "selectivity." This means that Vitol and its peers may play a more important role in the energy market. To understand Vido, you'll have to look at how gasoline gets to your tank and how big oil companies are evolving.
Wido's traders are like quarterbacks on a well-trained football team. As soon as he approved a deal, he initiated a series of actions by the other members of the team: someone was responsible for issuing the contract; the appointed inspector was responsible for ensuring that the oil was loaded properly; someone was responsible for getting a letter of credit from the bank to guarantee payment; and someone was responsible for chartering the cargo ship and inspecting it. Every aspect of a transaction must be monitored, because profitability may depend on certain details. The size of the profit often depends on the administrative cost of the shipment. Every purchase or sale is hedged to limit risk.
The headquarters of Vido's trading business is located in downtown Geneva and occupies two floors of an eight-story building above a nightclub. Traders and their assistants sit in droves next to a pile of desks in an open-plan office, and they take up a little more than half of the space on the floor.
The profits of physical trade are thin – the profit margin is usually only 1% or less. Of course, if the operating income is large enough, low profit margins can still create huge profits. For example, according to Thomson Reuters figures, in 2010, Vitol had operating income of $206 billion and net profit of $1.5 billion, with a profit margin of just 0.7%. The better year was 2006, when Wido made a significant profit by selling a refinery. According to D&B, operating income for the year was US$116 billion, and profit was US$2.2 billion, with a profit margin of 1.9%.
The company has been cultivating its own capabilities since its inception. Wido was founded in Rotterdam in 1966 by two Dutchmen, henkvietor and Jacquesdetiger, who bought and sold petroleum products in the upper and lower Rhine. The duo combined Viettor's surname "vietor" with oil and named the company "Vido". A few years later, they opened an office in Geneva, which was then becoming a commodities trading center.
If you've visited Disneyworld or taken a Disney cruise, or even refueled anywhere in Central Florida, your plane, ship, and car are likely to have used products from the Victor Group.