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Last updated on April 24, 2014 at 21:24 EDT

Latest Gunvor Stories

2012-08-05 22:20:17

GENEVA, Aug. 6, 2012 /PRNewswire/ -- The European Commission has approved regulatory clearance for Gunvor Group Ltd's acquisition of the assets of Petroplus' refinery in Ingolstadt and related German marketing activities. The clearance marks a key milestone for Gunvor in the closing process. Gunvor's purchase of the refinery, which remains subject to additional customary closing conditions and regulatory clearance from competition authorities, is a part of the company's long-term growth and...

2012-08-05 14:20:12

GENEVA, Aug. 5, 2012 /PRNewswire/ -- Signal Peak, a bituminous coal mine located in Montana's Bull Mountains, is "pulling ahead" and on track to becoming a world class mining operation, in both production and safety, reported mining industry magazine Coal Age in a recent profile of Signal Peak entitled, "Signal Peak Energy's Bull Mountain Mine has Pulled it Together and is Pulling Ahead." The article highlights Signal Peaks' performance transformation which has resulted from the mine's new...

2012-07-10 22:20:40

ANTWERP, Belgium, July 11, 2012 /PRNewswire/ -- Gunvor Group Ltd is moving ahead with plans for its new refinery in Belgium, having successfully launched a USD 500 million borrowing base secured revolving credit facility (RFC) to support operations. ING and Rabobank are the two Bookrunning Mandated Lead Arrangers of this facility, which will be used to finance the purchase of crude oil and feedstock for the refinery, i.e., blending products, storage and processing at the refinery's premises,...

2012-07-03 10:21:56

NICOSIA, Cyprus, July 3, 2012 /PRNewswire-USNewswire/ -- Gunvor Group Ltd (Gunvor) has been notified by Swiss authorities that they are conducting an investigation into the activities of a former employee in the Republic of Congo (Congo-Brazzaville). Gunvor itself is not the object of the current investigation. Gunvor is fully cooperating with Swiss authorities on the investigation, and Gunvor is also conducting a thorough internal investigation into these allegations. Gunvor has rigorous...

2012-07-03 02:21:06

GENEVA, July 3, 2012 /PRNewswire/ -- The Swiss financial publication L'Agefi has profiled Gunvor Group in a recent article entitled "The emergence of a global player," which describes how the "Geneva-based trading company has in a few years become a world leader in energy trading. And more is expected." The article outlines Gunvor's strategy "of vertical integration illustrated by the recent acquisitions of refineries in Antwerp (Belgium) and Ingolstadt (Germany) sold by the now defunct...

2012-06-21 02:21:30

ANTWERP, Belgium, June 21, 2012 /PRNewswire/ -- Gunvor Group CEO Torbjorn Tornqvist this week visited the company's recently acquired refinery, Independent Belgian Refinery NV (IBR), to meet with management and staff and discuss continuing integration with Gunvor's operations. IBR, a former Petroplus asset, is now 100%-owned by Gunvor. Through the May purchase, Gunvor retained all 200-plus IBR employees; however, the Antwerp refinery is currently looking to hire new staff to support its...

2012-06-14 02:21:43

INGOLSTADT, Germany, June 14, 2012 /PRNewswire-USNewswire/ -- More than 200 Petroplus Bavaria employees and members of management welcomed Gunvor Group CEO Torbjorn Tornqvist to the Ingolstadt plant last week. The visit was the first by Tornqvist since Gunvor announced the acquisition of the refinery's assets, which will keep open the plant saving hundreds of jobs. "I am pleased to be here today to share with you our plans for the future," Tornqvist said to the crowd, which included...

2012-05-03 10:25:38

GENEVA, May 3, 2012 /PRNewswire-USNewswire/ -- An article in the 5 May edition of The Economist makes untrue and unsubstantiated allegations about Gunvor Group ("Gunvor"), one of the world's major independent commodity trading companies. The company refutes these statements and fabrications that are damaging commercially and reputationally. Gunvor goes on record to challenge all the allegations made in this ill-researched and irresponsible article. Torbjorn Tornqvist, Chairman of Gunvor...

2011-11-25 07:50:00

PORT MORESBY, Papua New Guinea and HOUSTON, Nov. 25, 2011 /PRNewswire/ -- InterOil Corporation (NYSE: IOC) ("InterOil") and Pacific LNG Operations Ltd. ("Pacific LNG") announced the signing of a Heads of Agreement (HOA) with Gunvor Singapore Pte. Ltd., for the supply of one million tonnes per annum (mtpa) of liquefied natural gas (LNG) from the Gulf LNG Project in Papua New Guinea. The signing occurred in Port Moresby and was witnessed and supported by Prime Minister Peter O'Neill, the...

2011-10-18 07:31:00

AKRON, Ohio, Oct. 18, 2011 /PRNewswire/ -- The FirstEnergy Corp. (NYSE: FE) and Boich Companies subsidiaries that jointly own the Signal Peak coal mine in Montana announced that Pinesdale LLC, a fully owned subsidiary of the Gunvor Group, Ltd., one of the world's leading commodity traders, has purchased a one-third interest in the venture for $400 million. As part of the transaction, FirstEnergy will receive nearly $260 million of the proceeds. Additionally, the transaction will reduce...