Gunvor Chairman Torbjorn Tornqvist
Gunvor on the hunt for opportunities
Trader sees potential for M&A as oil prices come down, says chairman Torbjorn Tornqvist
Gunvor, one of the world’s largest independent commodities’ traders, continues to be “opportunistic” in its hunt for acquisitions as the Geneva-based company adds new crude streams to its portfolio and returns to the metals trading business, its chairman told Petroleum Economist in an interview. Gunvor has “a very active M&A field” and is sitting on sizeable equity, while having a window to tap debt to finance any potential deals, said Torbjorn Tornqvist. “Oil prices are coming down,” he said. “Obviously, upstream will be much more under pressure. So, maybe there will be some opportunities there [for acquisitions].” Gunvor, like other independent oil traders, has a significant amount of
Also in this section
13 March 2026
Brussels is again weighing a cap on gas prices amid the Hormuz crisis, but the measure could backfire by deterring the LNG cargoes Europe urgently needs
12 March 2026
Emergency oil stocks provide a last line of defence to oil market shocks, so the IEA’s unprecedented 400m bl release represents something of a double-edged sword
12 March 2026
LPG could rapidly expand access to clean cooking across Africa and prevent hundreds of thousands of deaths from indoor air pollution each year, but infrastructure shortages and regulatory barriers are slowing investment and market growth
11 March 2026
Missiles over Dubai and disruption in Hormuz are testing the emirate’s reputation—and shaking the energy hub at the centre of the Gulf economy
