In a stunning turnaround, Gunvor’s new CEO reveals profits have soared after a disastrous first half—but is this recovery too good to be true? Just days after announcing a groundbreaking staff buyout, the energy trading giant is making headlines again. On December 2, 2025, at 11:15 AM UTC (updated at 2:08 PM UTC), Gunvor Group’s newly appointed CEO, Gary Pedersen, shared an optimistic update: the company has bounced back from a 71% profit slump in the first half of the year, thanks to improved trading conditions and robust oil-refining margins. But here’s where it gets controversial—this rebound comes on the heels of a tumultuous month, during which the U.S. accused Gunvor of being a ‘puppet’ of the Kremlin. Is this recovery a sign of resilience, or is there more to the story? And this is the part most people miss: Pedersen’s appointment follows co-founder Torbjörn Törnqvist’s decision to sell his majority stake to senior staff, marking a seismic shift in the company’s leadership. Could this internal buyout be the key to Gunvor’s sudden success, or is it merely a strategic move to distance itself from geopolitical scrutiny? As the energy sector watches closely, one thing is clear: Gunvor’s future is anything but predictable. What do you think? Is this turnaround a triumph of strategy, or is there a deeper narrative at play? Share your thoughts in the comments—we’d love to hear your take on this complex and evolving story.
