Vitol Group, which traded more than 8 million barrels of oil and petroleum products a day in 2019, is getting into the used-car business.
The storied trading house, founded more than 50 years ago in Holland, has launched a new venture called Vava Cars. It’s “on a mission to become the most trusted car transaction platform in the world,” the company says on its website.
The used-car startup is the latest example of how the world’s biggest energy traders are trying to diversify their core business of buying, blending and transporting oil and refined hydrocarbon products amid the transition to greener fuels.
Read more at TOI