Moving Energy
Efficiently
Moving Energy
Efficiently
Gunvor moves physical energy from where it is sourced and stored to where it is demanded most.
SINGAPORE – Gunvor Singapore Pte. Ltd. (the “Borrower”), a wholly-owned subsidiary of Gunvor Group Ltd (“Gunvor” or the “Group”), has closed a US $1.2 billion sustainability-linked, syndicated revolving credit facility (“RCF” or “Facility”) on 14 June 2024.
The Facility, which was launched initially at US $750 million in April 2024, benefited from strong support from Gunvor’s banking partners and attracted new banks, and closed significantly oversubscribed by over 60%, increasing the total facility amount from the previous year. The Borrower has further upsized the Facility by US $120 million via an accordion feature, which was structured to accommodate two banks that joined the Facility after signing, bringing the total Facility amount to US$1.32 billion as of 12 July 2024.
The 364-day Facility, which is guaranteed by the Company and includes two 12-month extension options, will be used for general corporate and working capital purposes, including the refinancing of the Borrower’s existing US$ 1.035 billion 2023 Asia Sustainability-linked Revolving Credit Facility.
Similar to previous financings, the Facility includes four sustainability Key Performance Indicators (KPIs) supporting the Group’s strong commitment to improve the environmental impact of its trading operations and to invest in sustainable commodities and businesses. The KPIs relate to the reduction of Scope 1 and 2 Greenhouse Gas (GHG) emissions; reduction of Scope 3 GHG emissions associated with the improvement of energy efficiency of the shipping fleet; the investment in non-fossil fuel projects; and the assessment of the Group’s assets, JVs and suppliers against Human Rights principles. Each KPI is tested annually and verified externally in line with LMA SLL principles.
“The successful renewal of our Asian RCF is the result of the deep collaboration between Gunvor and its banking partners. The strong relationship we have with our core financing partners, enhanced by the welcome addition of several new lenders into our upsized anchor facility, demonstrates their support for the Group’s strong performance and positive outlook,” said Jean Rohr, Gunvor’s Regional CFO for Asia-Pacific.
Abu Dhabi Commercial Bank PJSC, China CITIC Bank International Limited, DBS Bank Ltd., MUFG Bank, Ltd. and Oversea-Chinese Banking Corporation Limited were mandated to arrange the Facility and acted as the Active Bookrunning Mandated Lead Arrangers for the Facility. Agricultural Bank of China Limited, Singapore Branch, Arab Petroleum Investments Corporation, Emirates NBD Bank (P.J.S.C), Singapore Branch, First Abu Dhabi Bank PJSC – Singapore Branch, Natixis, Singapore Branch and State Bank of India, Singapore Branch remain as the Bookrunning Mandated Lead Arrangers. Indian Bank and Union Bank of India, DIFC Branch, Dubai joined as new Bookrunning Mandated Lead Arrangers. DBS Bank Ltd. also acted as syndication coordination agent, while Natixis, Singapore Branch also acted as Facility Agent, legal and documentation agent and sustainability coordinator of the Facility.
Coöperatieve Rabobank U.A., Singapore Branch, UBS AG, Crédit Agricole Corporate and Investment Bank, Singapore Branch, and ING Bank N.V., Singapore Branch are Senior Mandated Lead Arrangers.
China CITIC Bank Corporation Limited, Shanghai Branch joined as a new Mandated Lead Arranger, while Mizuho Bank, Ltd, Société Générale, a public limited company incorporated in France, acting through its Hong Kong branch, and United Overseas Bank Limited are Mandated Lead Arrangers.
Furthermore, Westpac Banking Corporation, Singapore Branch, Bank of China Limited, Singapore Branch and China Construction Bank Corporation Singapore Branch all joined as new Lead Arrangers, whereas Commerzbank Aktiengesellschaft, Singapore Branch, Habib Bank Limited, Singapore Branch, Krung Thai Bank Public Company Limited, Singapore Branch, and Sumitomo Mitsui Banking Corporation Singapore Branch are the Lead Arrangers.
Sumitomo Mitsui Trust Bank, Limited Singapore Branch, Banque Internationale de Commerce – BRED (Suisse) SA, and National Bank of Fujairah PJSC remain as Arrangers.
About Gunvor Group
Gunvor Group is one of the world’s largest independent commodities trading houses by trading volume, creating logistics solutions that safely and efficiently move physical energy from where it is sourced to where it is demanded most. With strategic investments in industrial infrastructure (refineries, pipelines, storage and terminals), Gunvor further generates sustainable value across the global supply chain for its customers. The Group’s 3 main trading hubs are in Geneva, Singapore and Houston, with other trading offices in Stamford, Dubai, London and Shanghai, supported by a network of more than 20 representative and other trading offices around the globe.
The partnership aims to develop up to 3GW of solarSolar In the context of energy commodities and power generation, "solar" refers to the utilization of energy from the sun to produce electricity or heat. This process is harnessed through... Read more capacity and marks Gunvor’s expansion into the solar sector alongside renewable energy specialist Quercus
LONDON — Gunvor Group (“Gunvor”), a leading global energy commodities trading company, together with Quercus Real Assets Limited (“Quercus”), the London-based renewable specialist focused on international investments within the Energy TransitionEnergy Transition refers to the global shift from reliance on fossil fuels such as coal, oil, and natural gas towards more sustainable and renewable energy sources like solar, wind, hydroelectric,... Read more, proudly announce a landmark solar development partnership that targets the development of up to 3 gigawatts (GW) of solar photovoltaic (PV) capacity in Italy.
Under the terms of the deal, Quercus will draw on its established track record of developing renewable projects—from permitting to “ready to build” status—and combine that with Gunvor’s ability to fund, manage, and optimize assets through power purchasing agreements (“PPAs”). The solar sites will be strategically located across all regions in Italy, granting Gunvor the option to acquire and enter into PPAs with the assets.
“Gunvor’s first material investment in the solar space fully aligns with Nyera’s commitment to the Energy Transition and our ambition to build up a renewable power portfolio.” said Fredrik Törnqvist, Managing Director of Nyera, Gunvor’s renewables**Renewables** Renewables, short for renewable energy sources, refer to energy that is collected from resources that are naturally replenished on a human time scale, such as sunlight, wind, rain, tides,... Read more investment vehicle.
The Italian solar market is among the most advanced in Europe, thanks to a well-developed regulatory framework and recent legislative changes that support the integration of solar infrastructure with agriculture.
“Given the essential role of agriculture in the Italian economy, it is crucial to align solar investments with agricultural preservation to ensure long-term sustainability,” said Diego Biasi, co-founder and CEO of Quercus. “At Quercus, we have consistently invested in renewables to enhance our surroundings. I am pleased to collaborate with a prominent partner like Gunvor, sharing our values and advancing our successful investment initiatives.”
Aldo Della Valle, Gunvor’s Head of Power & Natural Gas Trading, added: “This landmark solar venture will further complement Gunvor’s recently announced intention to acquire bp’s Spanish powerplant and is another step in our strategy of building up a portfolio in Europe composed of conventional flexibility and renewable power positions to enhance our power and gas trading activities.”
The deal remains subject to regulatory approval and other customary closing conditions.
About Quercus Real Assets
Quercus Real Assets Limited is a renewable energy specialist focused on energy transition investments, with offices in London and Dubai. Diego Biasi and Simone Borla founded Quercus by establishing a Luxembourg-based fund which successfully completed over €1bn in gross investments from inception in five different successful strategies. In January 2020, Diego Biasi started to steer Quercus’s business in response to the evolution of the energy sector into a more diversified strategic investment approach. Quercus has successfully completed over 40 deals up to date. Since 2010 the strategy of the company has been founded on the belief that the creation of long-term environmental and social capital underpins and strengthens investors’ and shareholders’ returns. Quercus is committed to developing business opportunities and supporting responsible investments for sustainable income and capital returns while contributing to a carbon-neutral future. For further information, please visit www.quercusrealassets.com
About Gunvor Group
Gunvor is one of the world’s largest independent commodities trading houses by turnover, creating logistics solutions that safely and efficiently move physical energy from where it is sourced and stored to where it is demanded most. Gunvor has strategic investments in industrial infrastructure — refineries, pipelines, storage and terminals — that complement our core trading activity and generate sustainable value across the global supply chain for our customers. The company, which in 2023 generated US $127 billion in revenue on 177 million MT of volumes. For more information, visit GunvorGroup.com.
About Nyera
Nyera, a wholly-owned subsidiary of Gunvor Group, is dedicated to identifying Energy Transition investments, including new sustainable commodities and businesses. Nyera’s trading and investment activities are performed on a commercial basis, and the company is deliberate in entering areas of opportunity that will ensure a sustainable long-term model. Current areas of investment include solar, biofuel, biogas, green hydrogenHydrogen is the simplest and most abundant chemical element in the universe, represented by the symbol H and the atomic number 1. In standard conditions for temperature and pressure, hydrogen... Read more, renewable natural gas, and zero-emission maritime transportation, among other renewables-focused projects. For more information, visit Nyera.com.
La partnership mira a sviluppare fino a 3 GW di capacità solare e segna l’espansione di Gunvor nel settore solare insieme a Quercus, specialista in energie rinnovabili
LONDRA — Gunvor Group (“Gunvor”), una delle principali società di trading di materie prime nel settore dell’energia a livello mondiale, insieme a Quercus Real Assets Limited (“Quercus”), specialista in energie rinnovabili con sede a Londra che investe a livello internazionale nell’ambito della transizione energetica, annunciano con soddisfazione una storica partnership per lo sviluppo di progetti ad energia solare con lo scopo di raggiungere una capacità installata prossima ai 3 gigawatt (GW) in Italia.
Secondo i termini dell’accordo, Quercus attingerà alla sua comprovata esperienza nello sviluppo di progetti rinnovabili – dall’autorizzazione alla cantierabilità – in combinazione con la capacità di Gunvor di finanziare, gestire e ottimizzare le risorse attraverso contratti per l’acquisto di energia (“ PPA”). I progetti saranno strategicamente posizionati in quasi tutte le regioni d’Italia, garantendo a Gunvor la possibilità di acquisire e stipulare PPA quando gli impianti saranno in esercizio.
“Il primo investimento significativo di Gunvor nel settore fotovoltaico è pienamente in linea con l’impegno di Nyera, impegnata in progetti nell’ambito della transizione energetica e la nostra ambizione di costruire un portafoglio di asset ad energia rinnovabile”, ha affermato Fredrik Törnqvist, amministratore delegato di Nyera, il veicolo di investimento per le energie rinnovabili di Gunvor.
Il mercato solare italiano è tra i più avanzati in Europa, grazie ad un quadro normativo ben sviluppato e ai recenti cambiamenti legislativi che supportano l’integrazione delle infrastrutture solari con l’agricoltura.
“Dato il ruolo essenziale dell’agricoltura nell’economia italiana, è fondamentale strutturare gli investimenti nel solare preservando l’ecosistema dell’agricoltura per garantirne la sostenibilità a lungo termine”, ha affermato Diego Biasi, co-fondatore e CEO di Quercus. “In Quercus, abbiamo costantemente investito nelle energie rinnovabili per migliorare l’ambiente che ci circonda. Sono lieto di collaborare con un partner di standing elevato come Gunvor, condividere i nostri valori e dare seguito ad iniziative di investimento che nel tempo hanno registrato un crescente successo”.
Aldo Della Valle, Head of Power & Natural Gas Trading di Gunvor, ha aggiunto: “Questa storica iniziativa nel solare integra ulteriormente l’iniziativa recentemente annunciata da Gunvor di acquisire la centrale elettrica spagnola di BP e rappresenta un altro passo nella nostra strategia finalizzata a costruire un portafoglio in Europa composto da asset ad energia convenzionale e rinnovabile per migliorare le nostre attività di trading di energia e gas”.
L’accordo rimane soggetto all’approvazione in ottemperanza alla normativa vigente ed alle consuete condizioni propedeutiche al perfezionamento.
Nota agli editori
Informazioni su Quercus Real Assets
Quercus Real Assets Limited è uno specialista in energie rinnovabili con focus in investimenti nell’ambito della transizione energetica, con uffici a Londra e Dubai. Diego Biasi e Simone Borla hanno fondato Quercus creando un fondo con sede in Lussemburgo che ha completato con successo oltre 1 miliardo di euro di investimenti in cinque diverse strategie. Nel gennaio 2020, Diego Biasi ha indirizzato l’attività di Quercus, in risposta all’evoluzione del settore energetico, verso un approccio di investimento strategico più diversificato. Quercus ha completato con soddisfazione oltre 40 operazioni ad oggi. Dal 2010 la strategia della società si è fondata sulla convinzione che la creazione di valore con attenzione ai principi ESG a lungo termine sostenga e rafforzi i rendimenti degli investitori e degli azionisti. Quercus è impegnata a sviluppare opportunità di business e a sostenere investimenti responsabili per redditi e rendimenti di capitale sostenibili, contribuendo, al contempo, ad un futuro a zero emissioni di carbonio. Per ulteriori informazioni visitare QuercusRealAssets.com
Informazioni sul gruppo Gunvor
Gunvor è una delle più grandi società indipendenti di trading di materie prime al mondo per fatturato. Gunvor crea soluzioni logistiche che spostano in modo sicuro ed efficiente l’energia da dove viene prodotta e immagazzinata a dove è maggiormente richiesta. Gunvor ha investimenti strategici in infrastrutture industriali – raffinerie, oleodotti, depositi e terminali – che completano l’attività commerciale principale e generano valore sostenibile lungo tutta la catena di fornitura globale per i propri clienti. L’azienda, che nel 2023 ha generato ricavi per 127 miliardi di dollari su 177 milioni di tonnellate di volumi. Per ulteriori informazioni, visitare GunvorGroup.com.
A proposito di Nyera
Nyera, societa’ interamente controllata da Gunvor Group, è impegnata a identificare investimenti nell’ambito della transizione energetica, compresi nuovi prodotti e attività sostenibili. Le attività di trading e investimento di Nyera vengono svolte su base commerciale, la società mira ad entrare in aree di opportunità che garantiranno un modello sostenibile a lungo termine. Le attuali aree di investimento includono l’energia solare, i biocarburanti, il biogas, l’idrogeno verde, il gas naturale rinnovabile e il trasporto marittimo a emissioni zero, oltre ad altri progetti incentrati sulle energie rinnovabili. Per ulteriori informazioni, visitare Nyera.com.
Esta alianza estratégica tiene el objetivo de desarrollar hasta 3 GW de capacidad solar fotovoltaica y supone una fuerte expansión de Gunvor en el sector solar junto con Quercus, especialista en energías renovables
LONDRES — Gunvor Group (“Gunvor”), líder mundial en el trading de energía, junto con Quercus Real Assets Limited (“Quercus”), especialista en energías renovables con sede en Londres y centrada en inversiones internacionales en el espacio de la transición energética, anuncian con orgullo una alianza histórica para el desarrollo de energía solar que tiene como objetivo el desarrollo de hasta 3 gigavatios (GW) de capacidad solar fotovoltaica en Italia.
Según los términos de la operación, esta empresa aprovechará la sólida trayectoria en el desarrollo de proyectos de energías renovables de Quercus – desde la obtención de permisos hasta su construcción –, combinándola con la capacidad de Gunvor para financiar, gestionar y optimizar activos a través de acuerdos de compra de energía (“PPA”). Los emplazamientos solares estarán situados estratégicamente en todas las regiones de Italia, dando a Gunvor la opción de adquirir y suscribir PPAs con los activos.
“Esta primera gran inversión de Gunvor en el sector solar está plenamente alineada con el compromiso de Nyera en materia de transición energética y con nuestra ambición de construir una cartera europea de energía renovable”, declaró Fredrik Törnqvist, director general de Nyera, el vehículo de inversión en energías renovables de Gunvor.
El mercado solar italiano es uno de los más avanzados de Europa, gracias a un marco regulatorio bien desarrollado y a los recientes cambios legislativos que apoyan la integración de la infraestructura solar con la agricultura.
“Dado el papel esencial de la agricultura en la economía italiana, es crucial alinear las inversiones solares con la preservación de la agricultura para garantizar la sostenibilidad a largo plazo”, afirmó Diego Biasi, cofundador y consejero delegado de Quercus. “En Quercus, hemos invertido sistemáticamente en energías renovables para mejorar nuestro entorno. Me complace colaborar con un socio tan destacado como Gunvor, que comparte nuestros valores y promueve nuestras exitosas iniciativas de inversión”.
Aldo Della Valle, responsable de trading de electricidad y gas natural de Gunvor, añadió: “Esta histórica operación solar complementará la adquisición anunciada recientemente de la central de ciclo combinado de bp en España, y constituye un paso más en nuestra estrategia de creación de una cartera paneuropea de activos compuesta por flexibilidad convencional y energías renovables, con el fin de impulsar nuestras actividades de trading de electricidad y gas“.
La operación está sujeta a la aprobación de las autoridades reguladoras y a otras condiciones de cierre habituales.
Acerca de Quercus Real Assets
Quercus Real Assets Limited es una empresa especializada en energías renovables y en inversiones en transición energética, con oficinas en Londres y Dubái.
Diego Biasi y Simone Borla fundaron Quercus mediante la creación de un fondo con sede en Luxemburgo que ha completado con éxito más de 1.000 millones de euros en inversiones brutas desde su creación en cinco estrategias de éxito diferentes. En enero de 2020, Diego Biasi comenzó a dirigir el negocio de Quercus en respuesta a la evolución del sector energético hacia un enfoque de inversión estratégica más diversificado. Quercus ha completado con éxito más de 40 operaciones hasta la fecha.
Desde 2010, la estrategia de la empresa se basa en la convicción de que la creación de capital medioambiental y social a largo plazo sustenta y refuerza los rendimientos de los inversores y accionistas. Quercus está comprometida con el desarrollo de oportunidades de negocio y el apoyo a las inversiones responsables para obtener ingresos sostenibles y rendimientos de capital, al tiempo que contribuye a un futuro neutro en carbono.
Para más información visite www.quercusrealassets.com
Acerca de Gunvor Group
Gunvor es una de las mayores empresas independientes de trading de materias primas del mundo por volumen de negocio, aportando soluciones logísticas para mover la energía física de forma segura y eficiente desde donde se obtiene y almacena hasta donde más se demanda. Gunvor cuenta con inversiones estratégicas en infraestructuras industriales – refinerías, oleoductos, almacenamiento y terminales – que complementan nuestra actividad principal de trading y generan valor sostenible en toda la cadena de suministro mundial para nuestros clientes. La empresa, que en 2023 generó unos ingresos de 127.000 millones de dólares con 177 millones de toneladas de volumen. Para más información, visite GunvorGroup.com.
Acerca de Nyera
Nyera, filial al 100% del Grupo Gunvor, se dedica a identificar y ejecutar inversiones en Transición Energética, incluyendo nuevas energías y negocios sostenibles. Las actividades comerciales y de inversión de Nyera se llevan a cabo sobre una base comercial, y la empresa está decidida a entrar en áreas de oportunidad que garanticen un modelo sostenible a largo plazo. Las áreas de inversión actuales incluyen la energía solar, los biocombustibles, el biogás, el hidrógeno verde, el gas natural renovable y el transporte marítimo de emisiones cero, entre otros proyectos centrados en las energías renovables. Para más información, visite Nyera.com.
LIBREVILLE – The Gabon National Oil Company (Gabon Oil Company), which exercised its pre-emptive rights in November 2023 and subsequently entered into a sale and purchase agreement with Carlyle in February 2024, is pleased to announce the successful completion of its acquisition of Assala Energy, an oil exploration and production company active in Gabon, whose daily production is around 45,000 barrels.
This acquisition was done with the financial backing of Gunvor Group, a leading global energy commodities trading company based in Switzerland.
According to Marcellin SIMBA NGABI, Gabon Oil Company’s Chief Executive Officer, this acquisition is of paramount importance for the Republic of Gabon, unique shareholder of Gabon Oil Company. It will enable the Republic of Gabon, reinforce its control and sovereignty over its oil and gas reserves, and significantly increases its oil revenues.
“Gunvor is proud to have been selected as Gabon’s partner for this strategic acquisition,” said Stephane Degenne, Member of Gunvor Group’s Executive Committee. “As a leading global oil trading company, Gunvor brings its strengths—global market expertise and financing—to support GOC’s energy agenda.”
About Gunvor Group
Gunvor is one of the world’s largest independent commodities trading houses by turnover, creating logistics solutions that safely and efficiently move physical energy from where it is sourced and stored to where it is demanded most. Gunvor has strategic investments in industrial infrastructure — refineries, pipelines, storage and terminals — that complement our core trading activity and generate sustainable value across the global supply chain for our customers. The company in 2023 generated US $127 billion in revenue on 177 million MT of volumes.
Gunvor Group Ltd (“Gunvor”), one of the world’s leading independent commodities trading companies, today announces the following financial information for the year ended 31 December 2023:
Throughout 2023, Gunvor’s focus on advanced analytics and trading systems, and an infusion of new talent and business lines, enabled the Group to effectively navigate normalizing market conditions to deliver the second strongest trading result in the Group’s history, with a net income of $1.252 billion.
Market conditions were broadly less favorable for commodities trading than the previous year. While sanctions-related market dislocations resulting from the war in Ukraine continued, commodities markets struggled with numerous new headwinds, including: a weaker than expected Chinese economy, monetary tightening, a stronger US dollar, and an oil supply cut by OPEC+. The very high price volatility across energy commodities in 2022 gradually decreased over 2023, and prices normalized, particularly in natural gas. By year end, they achieved a level consistent with long-term trends.
Nevertheless, the investments Gunvor has made within the Group in recent years contributed to a strong performance. Gross profit for the year was US $3.248 billion, with after-tax net profit of US $1.252 billion. The result includes US $467 million in provisions taken related to the settlement of the Ecuador case, along with other non-recurring expenses.
Gunvor’s trading performance was broad based, once again across all desks and geographies, with meaningful contributions from the Group’s assets, including refining and shipping, as well as many of the new trading activities Gunvor is developing. The Group’s revenue fell to US $127 billion from US $150 billion the previous year, reflecting the decline in commodities prices; whereas total trading volumes increased to 177 million MT, up from 165 million MT, driven by the growth in new talent and business lines.
With its commitment to retain the majority of its profits in the company, the Group further continued to build its equity position. By year end, it reached a historic high of US $6.157 billion, representing a more than three-fold increase over the last five years. The Group’s strengthened equity allows for greater access to liquidity and the ability to move quickly on trading and investment opportunities as they arise.
Gunvor continued its sustainability journey by further defining targets addressing areas such as carbon footprint, reduction of CO2 emissions in all activities, waste and wastewater management, human rights and improvements to safety. Notably in 2023, Gunvor calculated for the first time the total Scope 3 emissions of the Group’s traded products from production to combustion, with the aim of defining clear carbon intensity for each flow and defining targeted approaches to reduce it. The data will be available in Gunvor’s 2023 Sustainability & Ethics report to be published mid-2024.
Gunvor’s shareholding at year-end stood at 84.21% held by Torbjörn Törnqvist, the majority beneficial owner, with the remaining 15.79% held by the Gunvor Employee Shareplan. There are no outside shareholders or economic interests.
About Gunvor Group
Gunvor is one of the world’s largest independent commodities trading houses by turnover, creating logistics solutions that safely and efficiently move physical energy from where it is sourced and stored to where it is demanded most. Gunvor has strategic investments in industrial infrastructure — refineries, pipelines, storage and terminals — that complement our core trading activity and generate sustainable value across the global supply chain for our customers.
LONDON – Gunvor and Pakistan LNG Limited confirm they have now settled all outstanding legal proceedings on terms satisfactory to all concerned. The parties look forward to continuing to work together. The terms and details of the settlement are subject to confidentiality agreements.
About Gunvor Group
Gunvor is one of the world’s largest independent commodities trading houses by turnover, creating logistics solutions that safely and efficiently move physical energy from where it is sourced and stored to where it is demanded most. Gunvor has strategic investments in industrial infrastructure — refineries, pipelines, storage and terminals — that complement our core trading activity and generate sustainable value across the global supply chain for our customers. The company, which in 2022 generated U.S. $150 billion in revenue on 165 million MT of volumes, is the leading independent global trader of liquefied natural gas (LNG).
SINGAPORE – Gunvor Singapore Pte. Ltd. (the “Borrower”), a wholly-owned subsidiary of Gunvor Group Ltd (“Gunvor” or the “Group”), has closed a US $1.2 billion sustainability-linked, syndicated revolving credit facility (“RCF” or “Facility”) on 14 June 2024. The Facility, which was launched initially at US $750 million in April 2024, benefited from strong support from […]
Gunvor Group and Quercus Real Assets Limited announce partnership that targets the development of up to 3 gigawatts of solar photovoltaic capacity in Italy.
LIBREVILLE – The Gabon National Oil Company (Gabon Oil Company), which exercised its pre-emptive rights in November 2023 and subsequently entered into a sale and purchase agreement with Carlyle in February 2024, is pleased to announce the successful completion of its acquisition of Assala Energy, an oil exploration and production company active in Gabon, whose […]
Gunvor Group Ltd (“Gunvor”), one of the world’s leading independent commodities trading companies, today announces the following financial information for the year ended 31 December 2023: Throughout 2023, Gunvor’s focus on advanced analytics and trading systems, and an infusion of new talent and business lines, enabled the Group to effectively navigate normalizing market conditions to […]
LONDON – Gunvor and Pakistan LNG Limited confirm they have now settled all outstanding legal proceedings on terms satisfactory to all concerned. The parties look forward to continuing to work together. The terms and details of the settlement are subject to confidentiality agreements. About Gunvor GroupGunvor is one of the world’s largest independent commodities trading […]
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