Gunvor has never been notified by the U.S Department of Justice (DoJ) of any investigation against it, and is simply caught up in political crossfire. Any allegations of wrongdoing with respect to our trading activities are baseless and entirely false.
As this pertains to the existing DoJ investigation, in 2011, one of Gunvor’s subsidiaries, Castor Americas, Inc., was served a subpoena by the U.S. Attorney’s Office for the Eastern District of New York for documents relating to its oil trading activities. Since that time, DoJ has not served any additional subpoenas to any companies or employees of Gunvor, and no member of Gunvor’s management has been subpoenaed.
For the very purpose to avoid any issues related to that matter, Gunvor has been and continues to be very transparent with U.S. authorities. Although Gunvor did not receive any subpoenas or requests, we have been proactively and voluntarily providing extensive information about the company, including shareholder lists, corporate structures, and even details of all sales and purchase contracts with Rosneft. There is no reason not to be completely transparent with these matters, so we have been entirely forthright with the details.
With respect to our operations, Gunvor is probably the most scrutinized oil trader in the industry. We’ve gone through rigorous due diligence connected with our US $500 million publicly listed bond. Further, all of Gunvor’s activities are in line with international standards for financial crime risk, including anti-money laundering, Economic sanctions are measures imposed by governments or international organizations to restrict trade, financial transactions, or other economic activities with a targeted country, organization, or individual. These sanctions are typically... Read more, counter-terrorist financing, and anti-bribery and anti-corruption, under the expert guidance and supervision of Gunvor’s Compliance Department.
As stated, allegations against Gunvor are patently false and there is no evidence to support them. Gunvor will continue to be transparent with respect to its business, and we stand by our position.
GENEVA (21 November 2023) – Gunvor Group Ltd (“Gunvor” or the “Group”) has signed a US $1.885 billion sustainability-linked, multi-currency revolving credit facility (“RCF” or “Facility”) in favour of Gunvor International B.V. and Gunvor SA. The Facility received strong support from Gunvor’s banking partners and attracted new banks, increasing the total amount of the facility […]
HOUSTON (8 November 2023) – Gunvor USA LLC (“Gunvor USA” or “the Company”), an indirect, wholly-owned subsidiary of Gunvor Group Ltd (“Gunvor” or “the Group”), has successfully closed the syndication of its US $1.60 billion uncommitted borrowing base credit facility (“the Facility”). The Facility includes a US $1.28 billion one-year tranche, a US $320 million […]
5 October 2023 Newbuildings will be carbon capture ready GENEVA (5 October 2023) – Gunvor Group Ltd (“Gunvor”) and Solvang ASA (“Solvang”) have formed a Joint Venture (“JV”) to own and operate next generation eco-vessels for the Liquefied Petroleum Gas (LPGLPG stands for liquefied petroleum gas, which is a versatile and convenient energy source commonly […]
Gunvor Group (“Gunvor”), a leading global physical energy commodities trader, is partnering with VARO Energy (“VARO”), which will build large-scale Sustainable Aviation Fuel (SAF) manufacturing at the extensive Gunvor Energy Rotterdam (GER) site. The facility will have a total production capacity of 350 kpta; approximately 70% will be SAF, with the remainder a mixture of […]
Gunvor USA (“Gunvor”), a subsidiary of Gunvor Group, a leading global energy commodities trading company, has signed a crude oilCrude oil refers to unrefined petroleum that is found with the Earth’s crust. Read more supply agreement with CVR Supply & Trading, LLC (“CVR”), a subsidiary of CVR Energy, Inc. (NYSE: CVI). Under the terms of […]
Four new banks join existing lending group Gunvor Group Ltd (“Gunvor” or the “Group”) has refinanced and increased its Off Balance Sheet Instruments Revolving Credit Facility (“Facility”) to US $1.37 billion, up from US $990 million in 2022, in favour of Gunvor SA and Gunvor International B.V. The Facility received strong support from Gunvor’s existing […]
Gunvor Singapore Pte. Ltd. (the “Borrower”), a wholly-owned subsidiary of Gunvor Group Ltd (“Gunvor” or the “Company”), has closed a US $1.035 billion sustainability-linked, syndicated revolving credit facility (the “Facility”) on 16 June 2023. The Facility, which was launched initially at US $550 million in April 2023, benefited from strong support from a total of […]
Celsius Tankers (“Celsius”) expand their partnership with Gunvor Group Ltd (“Gunvor”) in the liquefied natural gasNatural gas is a fossil fuel composed mainly of methane, a hydrocarbon compound. It is formed deep beneath the Earth's surface as a result of the decomposition of organic matter... Read more (LNG) sector with the chartering of four highly […]
Gunvor Singapore Pte. Ltd. (“Gunvor Singapore”), a wholly-owned subsidiary of Gunvor Group Ltd (“Gunvor” or the “Company”), has closed a US $600 million borrowing base facility (“Facility”) to support the working capital needs of its Asian fuel oil business.