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Violation Tracker Individual Record

Company: Vitol, Inc.
Current Parent Company: Vitol
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $25,000,000
Year: 2024
Date: July 10, 2024
Offense Group: competition-related offenses
Primary Offense: price-fixing or anti-competitive practices
Mega-Scandal: Price Fixing
Violation Description: Vitol, Inc. settled to resolve allegations that it worked with SK Energy Americas, Inc. to tamper with and manipulate spot market prices for California gasoline. Settlement was $50 million for the two companies but exact amounts for each company was not disclosed. We assume an even split of $25 million in our penalty amount.
Level of Government: state
Action Type: agency action
Agency: California Attorney General
Civil or Criminal Case: civil
Facility State: California
HQ Country of Current Parent: Switzerland
Ownership Structure of Current Parent: privately held
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: energy and commodity trading
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.