According to Törnqvist, Gunvor's profit decreased during the second half of the year compared to the first half of last year. But for the full year, the result is summed up to one of the 4-5 strongest so far for the oil trading company.
He also describes last year's crude oil trade as profitable for the full year.
But there were some aspects of our crude oil trade that didn't go as planned, so it's normal that we adjust, says Törnqvist.
Several high-ranking executives within Gunvor's trading unit have left the company in recent months, including CEO Stephane Degenne, according to the news agency Bloomberg.
Gunvor – an unlisted company with Törnqvist as majority owner and approximately 1,780 employees – is expected to present the 2024 financial report to lenders in the coming weeks.
