Swiss commodity trading major Gunvor is considering asset purchases in the U.S. oil and gas space, Reuters has reported, citing unnamed sources, in a bid to build a better relationship with the Trump administration. President Trump called Gunvor a “Russian puppet” after the Swiss company made a bid for the international business of Russian oil […]
The Tullow assets are set to produce around 10,000 barrels of oil a day this year, the company said, adding that it will use the funds to reduce its debt profile. The company has been setting up deals to sell assets and bring down debt ahead of $1.39 billion in maturities next year.
Gunvor Group, one of the world’s biggest independent oil traders, piled into the North Sea crude market during a wider rout in futures markets.
The North Sea crude market, home to the world’s most important physical oil-price benchmark Dated Brent, often sees individual traders taking relatively large positions, meaning Gunvor’s actions aren’t definitive proof of bullishness.