The Swedish billionaire who took control of the world’s fourth-largest oil trader last week buying out his Russian co-founder may soon look for a new partner. He says the ownership is too concentrated, Bloomberg reported on March 28.
Russian billionaire Gennady Timchenko has sold his stake in global commodity trading company Gunvor to his partner Torbjorn Tornqvist, the company stated on its website on March 21, Itar-Tass has reported. Timchenko was put on US sanction list.
Privately-owned Russian natural gas company Novatek is moving into oil production in the latest sign of its rapid expansion, RIA Novosti reported on November 8, citing business newspaper Vedomosti.
Rosneft and the Swedish company Lundin Petroleum are discussing joint offshore exploration in Norway and Russia, Lundin Petroleum has said in a press release.
A subsidiary of Gunvor Group Ltd., the independent energy trader, was served a subpoena by the U.S. Attorney’s office in April 2011 for documents relating to its oil-trading activities, Bloomberg reports.
Gunvor Singapore Pte Ltd (the “Borrower”), a wholly-owned subsidiary of Gunvor Group (“Gunvor” or the “Company”), today launched US$ 650,000,000 syndicated revolving credit facilities (the “Facilities”).
Reuters reports that Swiss-based trading house Gunvor, once dominant in the Russian crude oil market, is looking at new oil and gas opportunities in the United States, its chief executive said on Thursday.
Gunvor Group Ltd., the independent energy trader, may sell as much as $500 million of bonds this year and plans to build new refineries, chief executive officer and co-founder Torbjorn Tornqvist told Bloomberg.
LLC Novorossiysk Fuel Oil Terminal (“NFT”), which is jointly owned by Gunvor Group (“Gunvor”) and PJSC Novorossiysk Commercial Sea Port (“NCSP”), has successfully closed a secured 7-year USD $110 million credit facility (the “Facility”) from ZAO Raiffeisenbank.