Torbjorn Tornqvist Net Worth is
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Gunvor Group Ltd is a global commodity trading company registered in Cyprus, with its main trading office in Geneva, Switzerland. Gunvor also has trading offices in Singapore, the Bahamas, and Dubai, with a network of representative offices around the globe. The company operates in the trade, transport, storage and optimization of petroleum and other energy products, as well as having investments in oil terminal and port facilities. Its operations consist of securing crude oil upstream and delivering it to market via pipelines and tankers.
The company, which was founded in 2000, is the fourth largest crude oil trader in the world after Glencore, Vitol, and Trafigura. The company was co-founded and controlled by Gennady Timchenko together with TorbjA?rn TA?rnqvist; however, due to United States sanctions, Timchenko sold his stake in the company to TA?rnqvist in March 2014..
Gunvor's largest single supplier of crude oil is Russia, though the company also trades African, Asian, and South-American crude and is active on all continents. In 2011, Gunvor was trading less than 20% of Russia's seaborne oil.


"Gunvor" is an Old Norse name meaning "careful in fighting".
Gennady Timchenko and TorbjA?rn TA?rnqvist began working together in 1997, and formalized Gunvor in 2000. In 2003, the company started operations in Geneva.
According to the Financial Times, until 2007 the company was a "niche player" focused on exporting Russian oil through Estonia, relying on the expertise of its two founders in the oil business, Russian market and transit logistics. TorbjA?rn TA?rnqvist is a Swedish citizen born in 1953. He has traded oil across the world for over twenty years, beginning his career at BP. Gennady Timchenko is a Finnish citizen born in the Soviet Union in 1952. He has more than 20 years experience in the oil industry, beginning with the Kirishi refinery during perestroika, and was one of the first Russians to export oil to Europe after the Soviet Union c

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Torbjorn Tornqvist Latest News

Gunvor CEO Tornqvist says Opec has put a floor under oil market

Geneva: Torbjorn Tornqvist, head of one of the top four independent oil traders, expects crude prices to range from $50 to $55 (Dh183.5 to Dh202) a barrel next year as OPEC’s preliminary agreement to freeze production puts “a floor on the oil market.”
Posted: October 20, 2016, 3:07 am

Gunvor Talked To Rivals To Potentially Sell Itself

Gunvor’s chief executive and majority shareholder Torbjorn Tornqvist, however, told the Journal that there were no plans to sell the company “at this time”. “I expect to remain a dominant shareholder in the Group for the foreseeable future ...
Posted: April 7, 2017, 2:35 pm

Gunvor to grow shipping, targets ventures with partners

LONDON (Reuters) - One of the world’s largest oil traders, Gunvor Group, plans to grow via ventures and could acquire stakes in businesses such as shipping or refining with partners, its founder Torbjorn Tornqvist told Reuters. Such ventures would be an ...
Posted: October 9, 2017, 11:38 pm
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