According to Nefte Compass, from February 2002 to February 2008, Russian oil exports through Gunvor increased sixteen times. In 2017, a Swedish Radio documentary presented evidence that Gunvor had been involved in a Belarusian oil smuggling scheme featuring corruption at the highest levels in the Belarus government. Want an ad-free experience?Subscribe to Independent Premium. [9] On 20 March 2014 Timchenko was included on the United States' Sanctions list in the wake of the annexation of Crimea by Russia, due to his close ties with Russian President Vladimir Putin. The entry deadline having past – although there are always provisions for late entries – the defender’s organising America’s Cup Event Authority (ACEA) did not name the teams which had entered and said it would take until 20 August to assess full compliance. He has traded oil across the world for over twenty years, beginning his career at BP. [21], Gunvor also owns three major European refineries based in the Netherlands, Belgium and Germany.

Torbjörn Törnqvist Chairman and CEO. Britain’s Ben Ainslie Racing announced its intentions at a gala launch staged at Greenwich. School of Science and Engineering 201 Lindy Claiborne Boggs Center 6823 St. Charles Avenue New Orleans, LA 70118-5698. [17] According to the company website, Gunvor is associated with a railway oil transportation company (Transoil) and owns its own shipping company, Clearlake Shipping Ltd, which shipped 30% of the Baltic crude oil (20.5 million tonnes) in 2006.[19]. Following the major WikiLeaks release of US State Department cables in November 2010, it was reported by the London Daily Telegraph[31] that the wealth of the then Russian Prime Minister Vladimir Putin is linked to a "secretive Swiss-based oil trading firm" called Gunvor. [18], Gunvor has invested in oil storages facilities, railway transportation as well as port facilities and terminals, therefore ensuring a "comparative advantage over their competitors", according to Törnqvist interviewed by the Financial Times. "Ekot-granskning om oljesmuggling prisas", "The inside story of how Putin and his KGB cronies took control of Russia", On the offensive: How Gunvor rose to the top of Russian oil trading, Gunvor, Putin and me: the truth about Russian oil trader, https://en.wikipedia.org/w/index.php?title=Gunvor&oldid=978197515, Non-renewable resource companies established in 2000, Multinational companies headquartered in Cyprus, Articles with dead external links from August 2018, Articles with permanently dead external links, Articles with unsourced statements from July 2009, Creative Commons Attribution-ShareAlike License, An article from Michael J. Economides published by, This page was last edited on 13 September 2020, at 13:49. The company intends to continue to expand and diversify in 2010, both geographically and across the energy value chain. That, after that, the team ever made it to the elimination races in 2013 “was our victory” says Törnqvist, who acknowledges that the holder and defender, Larry Ellison’s Oracle Racing, is “on a different page” from the challengers but Percy says that they are all talking much more since Australia’s Hamilton Island Yacht Club withdrew from its lead role. Torbjörn Törnqvist, född 1953 i Solna, är en svensk affärsman, grundare av och ägare till oljehandelsföretaget Gunvor. Our executive team works in close coordination and comprises a part of the company’s private shareholder base. Marking a new phase in its expansion into the European energy markets, Gunvor entered its first trades in the natural gas, power and carbon markets in January 2010, and extending its trading capability across North West and Central Europe for physical natural gas and coal across the globe.

So far, Team New Zealand has publicly announced its entry and said it has been accepted and the entry fee of $1m. Iain Percy (left) and Torbjörn Törnqvist with the America’s Cup in the home they would like it to have, Stockholm, America's Cup 2017: Torbjorn Tornqvist praises 'natural leader' Iain, You may not agree with our views, or other users’, but please respond to them respectfully, Swearing, personal abuse, racism, sexism, homophobia and other discriminatory or inciteful language is not acceptable, Do not impersonate other users or reveal private information about third parties, We reserve the right to delete inappropriate posts and ban offending users without notification.

He is now focused on developing Gunvor’s diversified operations a fully integrated global commodities trading house. New Orleans, LA. Our journalists will try to respond by joining the threads when they can to create a true meeting of independent Premium. [9][10], Gunvor's largest single supplier of crude oil was once Russia, though the company now originates most of its crude oil from the Americas, with less than 13 percent coming from Russia. You can find our Community Guidelines in full here. Percy does not mention the death of his Olympic partner, Andrew Simpson, in a training session last year. [23] The group has also opened offices in Amsterdam, Moscow, Beijing and Nigeria. Please be respectful when making a comment and adhere to our Community Guidelines. In September 2009, the terminal was sold to Transneft. It allows our most engaged readers to debate the big issues, share their own experiences, discuss real-world solutions, and more. [13] In 2011, Gunvor was trading less than 20% of Russia's seaborne oil. Torbjörn Törnqvist är Sveriges kanske hemligaste miljardär.

A consummate entrepreneur, Törnqvist has drawn on his extensive knowledge of the international oil markets to establish Gunvor Group as one of the world’s leading oil trading companies.

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