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    Home > Finance > Glencore's global head of naphtha Oliver Bowen to join rival Vitol, sources say
    Finance

    Glencore's global head of naphtha Oliver Bowen to join rival Vitol, sources say

    Published by Global Banking & Finance Review®

    Posted on October 21, 2025

    2 min read

    Last updated: January 21, 2026

    Glencore's global head of naphtha Oliver Bowen to join rival Vitol, sources say - Finance news and analysis from Global Banking & Finance Review
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    Tags:AppointmentTradingfinancial management

    Quick Summary

    Oliver Bowen leaves Glencore to join Vitol as head of naphtha trading, marking a significant shift in the commodities trading sector.

    Table of Contents

    • Oliver Bowen's Transition from Glencore to Vitol
    • Impact on Glencore's Trading Operations
    • Vitol's Strategy in Naphtha Market
    • Future of Naphtha Trading

    Oliver Bowen Leaves Glencore to Join Competitor Vitol as Naphtha Head

    Oliver Bowen's Transition from Glencore to Vitol

    By Shariq Khan and Robert Harvey

    Impact on Glencore's Trading Operations

    NEW YORK (Reuters) -Glencore's global head of naphtha trading, Oliver Bowen, is set to leave for rival Vitol, four sources told Reuters on Tuesday, making him the latest top trader to depart from the London-listed commodities trading and mining firm in recent months.

    Vitol's Strategy in Naphtha Market

    Bowen will start at Vitol on November 7 and oversee the world's largest commodities trader's European naphtha book, one of the sources said.

    Future of Naphtha Trading

    The sources requested anonymity to discuss confidential information.

    Bowen could not be contacted for comment. Vitol and Glencore declined to comment.

    Bowen's departure from Glencore comes as the company undertakes a broader reorganization of its trading operations, after facing a sharp slump in earnings from that department. Core earnings from Glencore's energy and steelmaking coal trading activities fell to $306 million in the first half of this year, the lowest for that period since 2016, the company reported in August.

    Bowen, 42, has been Glencore's head of naphtha trading since at least 2017, according to a profile on the UK government's Companies House. He served as a director of the UK-based Petrochemical Feedstock Association since February 2017 until he resigned in April this year, the profile showed.

    Glencore's current head of oil and gas trading, Alex Sanna, is set to step down from his role at the end of this year, Reuters earlier reported, citing a staff memo. Another Glencore veteran, Maxim Kolupaev, who currently heads gas and power trading for the firm, will replace Sanna, who headed the company's oil trading desk for the past six years.

    (Reporting by Shariq Khan in New York and Robert Harvey in London; Editing by Lisa Shumaker)

    Key Takeaways

    • •Oliver Bowen leaves Glencore for Vitol.
    • •Bowen to lead Vitol's European naphtha book.
    • •Glencore faces reorganization amid earnings slump.
    • •Alex Sanna to step down from Glencore oil trading.
    • •Maxim Kolupaev to replace Sanna at Glencore.

    Frequently Asked Questions about Glencore's global head of naphtha Oliver Bowen to join rival Vitol, sources say

    1What is naphtha?

    Naphtha is a flammable liquid hydrocarbon mixture used primarily as a solvent, in fuel production, and as a feedstock for petrochemical processes.

    2What is trading?

    Trading refers to the buying and selling of financial instruments, such as stocks, bonds, and commodities, with the aim of making a profit.

    3What are core earnings?

    Core earnings are a company's profits derived from its primary business operations, excluding any income from non-operational activities.

    4What is a commodities trader?

    A commodities trader is a professional who buys and sells raw materials or primary agricultural products, such as oil, metals, and grains.

    5What is a reorganization in business?

    A reorganization in business refers to a significant change in the structure or operations of a company, often aimed at improving efficiency or profitability.

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