John Addison, head of refined products for the Americas at Vitol, will retire on Tuesday, according to sources. Jean-Marc Monrad, Mr. Addison’s deputy, will take over as head of products for the Americas. Mr. Addison will focus on energy policy according to sources.
John Addison, the top gasoline trader at Vitol in the U.S., who helped secure a deal for the first Venezuelan oil exports after the capture of leader Nicolas Maduro by U.S. forces, is considering retiring from the world’s largest commodities trading house, four sources told Reuters on Tuesday.
Addison, 47, known for his success as a gasoline trader, has been a part of Vitol’s U.S. leadership team since 2012. An internal memo from Vitol about his retirement describes him as “one of the most successful traders in the company’s history.”
He is expected to be replaced by Jean-Marc Monrad, a gasoline trader and his deputy in the refined products office, according to one of the sources.
In January, Addison negotiated with the U.S. and Venezuelan governments to eliminate a multi-billion barrel backlog of crude oil accumulated by state-backed Venezuelan oil company PDVSA during the U.S. naval blockade of the country.
Vitol and rival Trafigura were the first companies approached by the U.S. government to market the oil. Since then, the U.S. government issued a general license to all interested companies for the export of Venezuelan oil.
Vitol has sold over a billion dollars worth of Venezuelan oil to refiners in the U.S., Europe, and Asia, with billions more in Venezuelan oil to sell, according to sources.
Vitol’s turnover – a measure of volume – reached $343 billion last year, up 3.6% from 2024.
John Addison joined Vitol in 2009. The Hoover, Alabama native started his career at Enron in June 2001 before joining European giant Shell, followed by Glencore in 2005.
Since joining Vitol, Addison has led the trading of refined products in America. Under his leadership, the company made hundreds of millions of dollars in gasoline profits, according to three sources.
His trading career involved overseeing physical gasoline markets in the U.S., the largest fuel consumer globally, and financial instruments for crude oil, diesel, and other energy market sectors.
He negotiated for Vitol during market disruptions like major hurricanes, freezing episodes, pipeline outages, the COVID-19 pandemic, and various military events.
John Addison plans to focus on energy policy after retiring, supporting American Vice President JD Vance in his Senate run and contributing to President Donald Trump’s 2024 re-election campaign.
A Vanderbilt University alum, Addison and his wife Shannon donated $30 million to their alma mater last year.
