Vitol Bunkers launches Green Bunker Fuels offering
Vitol Bunkers today announces the launch of Green Bunker Fuels for customers looking to mitigate their carbon emissions.
Vitol Bunkers customers will be offered the opportunity to cancel emissions associated with any given cargo through the overlay of Verified Emissions Reductions (VERs). The VERs will conform to the highest international standards and will be sourced from Vitol’s existing portfolio and the wider market and emissions will be calculated using IMO and EU guidelines. Customers will be offered a range of offset solutions to enable them to align mitigation with their broader emissions reduction programme and a fully bespoke programme will be available for customers wishing to deploy this strategy at scale.
Chris Young, Global Account Manager for Vitol Bunkers said: “Shipowners are keen to be part of the climate solution. Offsetting will be key to enhancing the sector’s environmental performance and we are delighted to be able to combine our expertise in two core areas and launch this compelling offering.”
Michael Curran, Head of Emissions Trading, Vitol said: “Vitol has built up a carbon portfolio over many years. We are delighted to deploy our expertise to offer vessel owners a bespoke means of mitigating emissions.”
Vitol is a leader in the energy sector with a presence across the spectrum: from oil through to power, renewables and carbon. It trades 7 million barrels per day of crude oil and products, and charters around 6,650 ship voyages every year.
Vitol’s clients include national oil companies, multinationals, leading industrial companies and utilities. Founded in Rotterdam in 1966, today Vitol serves clients from some 40 offices worldwide and is invested in energy assets globally including: circa 16m m3 of storage globally, 500kbpd of refining capacity, 7,000 service stations and a growing portfolio of transitional and renewable energy assets. Revenues in 2020 were $140 billion.