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 owner cuts stake as staff buy into growth strategy

LONDON (Reuters) - The co-founder of Gunvor, Torbjorn Tornqvist, is diluting his stake in the company to allow employees to own more than a third of the fast-growing trading house by year-end to help ...
Posted: October 11, 2016, 5:25 am

Tycoons vie for America’s Cup glory

Gunvor chief executive officer Torbjorn Tornqvist’s Artemis Racing is an early favourite to win the right to challenge billionaire Larry Ellison’s Oracle Team USA for the world’s oldest sporting troph...
Posted: May 10, 2017, 4:11 am

Gunvor sees major producers capping oil price rises in 2019

“Except for a few nations which are perhaps less important than Russia and Saudi Arabia volume-wise, I don’t see anybody wanting $85 oil,” Gunvor [GGL.UL] Chief Executive Torbjorn Tornqvist told the R...
Posted: October 30, 2018, 5:00 pm
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