Tag Refinery

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 €450 million borrowing base facility to support german operations

Gunvor Group has successfully closed a €450 million borrowing base facility to support ongoing operations and provide working capital for its oil refinery in Ingolstadt, Germany. The 1-year revolving facility launched at €400 million and was significantly oversubscribed, reflecting a…

Gunvor closes us $725 million borrowing base to support ara refining operations

Gunvor SA and Gunvor Belgium N.V., both subsidiaries of Gunvor Group, have closed a US $725 million borrowing base facility (“Facility”), which will provide working capital for Gunvor’s refining activities in the Amsterdam-Rotterdam-Antwerp (ARA) region. The Facility was launched at…

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…

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…

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 Group Posts 12% Increase in EBITDA for First Half 2014

For the first half, Gunvor’s EBITDA increased approximately 12% to US $395 million, up US $41 million over the first half 2013. Revenue remained steady at US $45 billion. Volumes increased to 71 million MT, compared with 61 million MT during the same period 2013, and included the addition of metals trading.

Gunvor refinery given german national occupational safety & health award

Gunvor Refinery Ingolstadt has been awarded the OHRIS certificate in recognition of the facility’s occupational safety management system from the Bavarian State Ministry of Labour and Social Welfare. OHRIS (Occupational Health and Risk Management System) is a tool developed by…

Gunvor Closes New US $290 Mil. RCF to Support European Activities

Gunvor Group Ltd (“Gunvor” or the “Group”) has closed a new US $290 million uncommitted off balance sheet instrument (“OBSI”) revolving credit facility (the “Facility”) in favour of Gunvor SA, Gunvor International B.V., Gunvor Deutschland GmbH, Gunvor Raffinerie Ingolstadt GmbH…