Tag Crude

Gunvor forms new ship holding jv clearocean tankers

ClearOcean Tankers has ordered 6 eco-friendly, scrubber-ready tankers Gunvor Group, one of the largest physical energy trading companies in the world, has entered into a joint venture with Oceangold Tankers and Maas Capital to form ClearOcean Tankers, a new ship…

Gunvor joins eiti transparency initiative

Gunvor Group, one of the largest physical commodities trading companies in the world, announces its support of the Extractive Industries Transparency Initiative (EITI), the global standard for improving transparency of revenues from natural resources. “Gunvor’s support for the EITI reflects…

Gunvor usa secures us $875 million borrowing base facility

Gunvor USA LLC, a subsidiary of Gunvor Group, has successfully closed the syndication of its US $875 million Borrowing Base Credit Facility. The facility will support the company’s established operations in the United States, as well as planned expansion into…

Gunvor enters into arrangement to sell stake in maasvlakte olie terminal to aramco overseas company b.V.

Gunvor Group (“Gunvor”), one of the largest physical commodities trading houses in the world, has entered into an arrangement to sell its stake in the Maasvlakte Olie Terminal (“MOT”) in Rotterdam, the Netherlands to Aramco Overseas Company B.V. (“AOC”), a…

Gunvor closes us $340 mil. Facility to support growth in americas

Gunvor Group has successfully refinanced a US $340 million borrowing base facility, increasing the amount from US $300 million. CA Indosuez (Switzerland) SA and Natixis served as Arrangers for the facility, and Natixis acted as Agent. Citibank, a new participant,…

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…

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 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…

Gunvor Underwrites PA Resources’ Rights Issue

GENEVA | 5 JUNE 2013 Gunvor Group today affirmed its commitment to PA Resources through its support for the company’s recapitalization measures. Gunvor, along with others, will fully underwrite a rights issue of SEK 891 mil. put forth by PA Resources. PA Resources is involved in oil and gas exploration and extraction, and is listed

Gunvor Closes USD $530 Million Facility to Support Activities in Americas

GENEVA | 11 DECEMBER 2012 Gunvor Group, together with Crédit Agricole and Natixis, acting as Co-Arrangers, designed a collateral-pooled facility to support its crude oil operations in the Americas. The USD $530 million facility was fully subscribed by six core banks in record time, packing in about two months. The facility will serve the storage