Latest news with #GunvorGroup
Bloomberg
3 days ago
- Business
- Bloomberg
BGN Snaps Up More Trading Talent for Its Geneva, Dubai Offices
Energy and commodities trader BGN is strengthening its team with experienced hires from Gunvor Group Ltd. and Litasco SA, building on last year's recruitment of talent. Guillaume Letessier took on the role of BGN's head of business development for Africa on Aug. 1. At the end of the month, Gianluca Bonuglia is expected to join the group as head of business development for light distillates, a spokesperson for BGN said in an email.
Bloomberg
25-07-2025
- Business
- Bloomberg
Trading House Gunvor Enters Japan's Growing Power Futures Market
Commodity trader Gunvor Group has entered the Japanese power market, joining a wave of foreign firms looking to expand into the fast-growing sector. Gunvor executed its first Japan power futures trade in late-June, according to the company's spokesperson. The firm also plans to open an office in Tokyo as part of its long-term commitment to the region, following its entry into the Australian power market in 2024, the spokesperson said.
Bloomberg
13-05-2025
- Business
- Bloomberg
Gunvor Financed Gabon's $300 Million Deal For Tullow Oil Assets
Commodity trader Gunvor Group has made another significant oil deal in Gabon, its second since the country sought more control of national assets following a coup d'etat in 2023. State-owned Gabon Oil Company financed $220 million of a $300 million deal for Tullow Oil Plc 's assets in the country through an underwritten prepayment facility from Gunvor's Middle East subsidiary, Tullow said in a filing Tuesday.
Bloomberg
14-04-2025
- Business
- Bloomberg
Oil at $60 Priced In No Demand Growth This Year, Gunvor Says
Oil's slump below $60 a barrel during the worst of last week's rout had priced in zero demand growth this year, and was probably an overreaction, according to the head of research at trader Gunvor Group. Brent futures fell as low as $58.40 on Wednesday — almost $25 below their 2025 high — as the escalating trade war between the US and China sapped confidence across global markets. The slide was compounded by a surprisingly large output increase by the Organization of the Petroleum Exporting Countries and its allies.
Yahoo
25-03-2025
- Business
- Yahoo
Gunvor Head of Trading Is Leaving Amid ‘Generational Shift'
(Bloomberg) -- Gunvor Group's head of trading Stephane Degenne is leaving the company as part of a wider transition in the energy trader's top management. They Built a Secret Apartment in a Mall. Now the Mall Is Dying. Why Did the Government Declare War on My Adorable Tiny Truck? Chicago Transit Faces 'Doomsday Scenario,' Regional Agency Says LA Faces $1 Billion Budget Hole, Warns of Thousands of Layoffs Libraries Warn They Could Be 'Cut off at the Knees' by DOGE Degenne rose up the ranks at Gunvor as an oil market dealmaker to become one of the company's most senior figures under co-founder and Chief Executive Officer Torbjörn Törnqvist. His departure is part of a 'generational shift in leadership,' a spokesperson for Gunvor said. Degenne's exit comes against the backdrop of a broader changing of the guard in the global commodity trading world, as companies refocus after years of bumper profits and longstanding executives retire. Larger rival Trafigura Group last year announced the second CEO succession in its history, capping a period of upheaval in its senior ranks that saw several of its top traders and executives depart. Gunvor, one of the world's biggest traders of oil and gas, is around 84%-owned by Törnqvist. The company also named Gary Pedersen, who recently joined from Millennium Management LLC as president and CEO of Americas, to its executive committee, as well as Energy Transition Director Fredrik Törnqvist, the son of the co-founder. (Adds job titles of executives in final paragraph) The Richest Americans Kept the Economy Booming. What Happens When They Stop Spending? Google Is Searching for an Answer to ChatGPT A New 'China Shock' Is Destroying Jobs Around the World How TD Became America's Most Convenient Bank for Money Launderers Tesla's Gamble on MAGA Customers Won't Work ©2025 Bloomberg L.P. Sign in to access your portfolio
