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Statement Correcting Inaccurate Ownership Claims
Recent reports concerning Gunvor’s ownership contain unchecked falsehoods. In 2007, for about a year, Mr. Petr Kolbin was a minority investor in Gunvor at a time when the company was looking to diversify its funding base as it grew. His participation did not ultimately make strategic sense and ended completely. He has not had any […]
Gunvor secures financing for rotterdam refinery
Gunvor Group Ltd is pleased to announce that its subsidiary, Gunvor Petroleum Rotterdam BV, has secured a USD 200 million project financing for the development and infrastructural upgrade of its facilities. The upgraded Rotterdam refinery will complement Gunvor Group’s existing refining operations, particularly through integration with its existing European refinery network, which includes refineries in […]
Successful Commissioning of PT Oiltanking Karimun in Indonesia
PT Oiltanking Karimun, a joint venture between Oiltanking GmbH and Gunvor Group, is pleased to announce that it has commissioned its new state-of-the-art terminal with the successful receipt of 60,000 metric tonnes of gasoline and gasoline components. The terminal, which is strategically located within the Straits Hub, has a total storage capacity of 730,000 cbm […]
Gunvor singapore closes asian rcf oversubscribed at more than us $1 billion
Gunvor Singapore Pte Ltd (the “Borrower”), a wholly-owned subsidiary of Gunvor Group Ltd (“Gunvor” or the “Company”), has closed a US $1,041 million Syndicated Revolving Credit Facilities (the “Facilities”), which will support new activities and existing operations in the Asia Pacific. The Facilities launched at US $750 million, and as a result of strong support […]
Gunvor singapore launches us $750 million revolving credit facilities
Gunvor Singapore Pte Ltd (the “Borrower”), a wholly-owned subsidiary of Gunvor Group Ltd (“Gunvor” or the “Company”), has today launched a US $750 million Syndicated Revolving Credit Facilities (the “Facilities”), which will support new activities and existing operations in the Asia Pacific. DBS Bank Ltd. (“DBS”), First Gulf Bank PJSC, Singapore Branch (“FGB”), ING Bank […]
Gunvor Group Results 2015
Throughout 2015, Gunvor continued a series of planned divestments of Russian assets, which is now complete. Gunvor also continues to assess new asset investments, having most recently acquired a crude oil refinery in Rotterdam, The Netherlands. Read More
Gunvor completes sale of novorossiysk terminal
Gunvor Group has completed the sale of the Novorossiysk Fuel Oil Terminal to a subsidiary of OJSC Transneft. Gunvor, which built the terminal as a greenfield project, owned a 50 percent stake. The terms of the sale were not disclosed.
Gunvor acquires rotterdam refinery
Gunvor Group has completed its acquisition of the Kuwait Petroleum Europoort refinery in Rotterdam, The Netherlands, from Kuwait Petroleum International, allowing the refinery to continue to operate in line with Gunvor’s integration and optimization strategies. “We are pleased to welcome the Rotterdam facility into the Group,” said Gia Mai, Gunvor’s Chief Investment Officer. “The Rotterdam […]
Gunvor closes oversubscribed us$ 1.36 billion revolving credit facility
Gunvor Group Ltd (“Gunvor” or the “Group”) has signed a US$ 1.36 billion Revolving Credit Facility (the “Facility”) in favor of Gunvor International B.V. and Gunvor SA (the “Borrowers”). The Facility will replace the maturing Tranche A (US$ 1.025 billion) of the Borrower’s Revolving Credit Facility dated 28 November 2014 and refinance Tranche B (US$ […]
Gunvor completes crude oil pipeline sale to gazprombank
Gunvor Group has completed the sale of its 50 percent ownership stake in the Nevskaya Pipeline Company (NPC) to Gazprombank. NPC owns a 4 kilometer pipeline connecting a jetty on the Baltic Sea to a crude oil tank farm owned by Transneft. The pipeline’s full nominal throughput capacity, which is fed by the BPS-2 pipeline, […]
Kuwait Petroleum International (KPI) and Gunvor Group (Gunvor) confirm the final stage of negotiations for the sale of the KP Europoort refinery
Kuwait Petroleum International and Gunvor Group have announced today that their respective affiliates have reached the final stage of negotiations on the sale of the KP Europoort refinery in Rotterdam, The Netherlands, subject to regulatory approval and the necessary employee consultation process. The sale would allow the refinery to continue in line with Gunvor’s integration and optimization strategies.
Gunvor asian rcf tops us $1 billion after additional interest
Gunvor Singapore Pte Ltd (the “Borrower”), a wholly-owned subsidiary of Gunvor Group Ltd (“Gunvor Group”), has increased its USD911.7 million syndicated revolving credit facility (the “Facility”) to USD1.0627 billion on 24 July 2015 through accordion to accommodate additional interest in the Facility. In addition to the original 31-bank lender group, seven banks have joined the […]
Gunvor increases middle east borrowing base to us $525 million
Gunvor Group, comprising Gunvor SA, Gunvor Middle East DMCC and Gunvor Singapore Pte Ltd, (together “Gunvor” or the “Company”) has signed a US $525 mil. secured uncommitted borrowing base facility (the “Facility”), which represents an increase of US $105 mil. over the prior year. “Gunvor continues to welcome new banks in support of our business […]
Gunvor Completes Majority Sale of Ust-Luga Oil Products Terminal
Gunvor Group, a leading global commodities trading house, has sold a 74 percent stake in OJSC “Ust-Luga Oil”, the operator of Ust-Luga Oil Products Terminal, to a company controlled by Mr. Andrei Bokarev, an investor in coal mining, transportation and industrial processes. The investment aligns with Mr. Bokarev’s expanding Russian logistics portfolio. Gunvor will retain […]
Gunvor Singapore Closes Asian RCF Oversubscribed at USD 911.7 Million
Gunvor Singapore Pte Ltd (the “Borrower”), a wholly-owned subsidiary of Gunvor Group Ltd (“Gunvor Group”), has signed a USD 911.7 million syndicated revolving credit facility (the “Facility”). Initially launched at USD 550 million, the Facility was well received by the banking community and was oversubscribed by 65%. As a result, the Facility was increased and […]
Gunvor Group Results 2014
Revenue in 2014 was relatively flat, totalling US $88 billion, 2.9 percent down from US $91 billion the prior year, reflecting a drop in the price of commodities. Operating profit increased to US $432 million, up 20 percent over the prior year figure of US $358 million. EBITDA rose 5 percent to US $752 million, compared to US $719 million in 2013. Read More
Gunvor Sells Kolmar Mining Asset
Gunvor Group has divested its stake in MC Kolmar (Kolmar), a coking coal mining and processing company located in the Sakha Republic of the Russian Federation, to a company controlled by Mr. Andrei Bokarev, an investor in coal mining and logistics assets, transportation and industrial processes. Kolmar operates several mines in the East Siberian Chulmakan […]