REUTERS/Dado Ruvic/Illustration/File PhotoSummarySummary Companies Gunvor on hiring kick, to expand in U.S. power, oil and LNGCEO says Europe only covered half of missing Russian gasCEO has been in dialogue with ADNOCLAUSANNE, Switzerland, March 21 (Reuters) - Energy trader Gunvor made strong profits last year and is looking to expand its oil trading and develop a significant power trading arm in the United States, its CEO told Reuters.
Gunvor, traditionally focused on oil and gas, metals and bulk commodities, has in recent years also begun trading power in Europe.
Tornqvist said the firm's traded oil and LNG volumes are more than 3 million barrels per day of oil equivalent.
"We are looking at whether to take a provision on our books for 2022," Tornqvist said.
As co-founder of Gunvor, Tornqvist remains the majority owner of the company but his stake slipped to 85.7% at the end of 2022, down from 88.4% year-on-year.