Gunvor Group Co-founder and Chairman, Torbjörn Törnqvist, has been honored with the Aramco Trading “New Silk Road CEO of the Year Award” 2024, given on the occasion of the 12th Fujairah Energy Markets Forum.
Held under the patronnage of His Highness Sheikh Hamad Bin Mohammed Al Sharqi, Supreme Council Member and Ruler of Fujairah, and in the presence of H.H. Sheikh Dr. Rashid bin Hamad Al-Sharqi, Deputy Chairman of the Fujairah Oil Industry Zone, the awards recognized leaders reshaping energy markets along the Middle East-Asia corridor.
Torbjörn Törnqvist accepting the Award
Dave Ernsberger, Head of Market Reporting & Trading Solutions at S&P Global Commodity Insights, announced the award:
“Torbjörn has always been guided by a clear personal philosophy and set of values, including hard work, operating with integrity, and innovation.”
Your Highness, Excellencies, Distinguished guests and Ladies and Gentlemen, Good Evening.
It is my pleasure to introduce the winner of the 2024 Aramco Trading New Silk Road CEO of the Year in the category of Trading – Torbjörn Törnqvist, Chairman, Gunvor Group.
Torbjörn has had an extraordinary career spanning more than 40 years in the oil and gas industry. He co-founded Gunvor Group in 2000, and under his leadership the company has grown into one of the world’s leading independent commodities trading companies, with operations in over 100 countries. Gunvor’s business now extends beyond oil trading to include a diverse range of commodities such as natural gas, agriculture, and metals.
Born in Stockholm, Torbjörn began his career at British Petroleum in 1977, where he worked for six years before moving on to become the Head of Oil Trading at Scandinavian Trading Co AB. His deep understanding of the oil markets proved invaluable when he went on to serve as Managing Director for the oil division of Intermaritime Group Petrotrade. That experience prepared him to take the bold step of co-founding Gunvor with Gennady Timchenko in 2000.
Gunvor initially focused on trading Russian crude oil to Europe, where it quickly gained a reputation for its ability to navigate the complexities of the Russian oil industry. Torbjörn is known not only for his strong leadership but also for his hands-on management style. He is actively involved in the day-to-day operations of the company and is widely respected for his meticulous attention to detail.
His leadership is defined by leading by example. He encourages his employees to take ownership of their work, and his ability to identify and nurture talent within the company has been central to Gunvor’s success.
Torbjörn’s has also been quick to adapt to changing circumstances, critical in the commodity markets, and this has ensured that Gunvor has remained competitive in a fast-evolving global market.
Torbjörn has always been guided by a clear personal philosophy and set of values, including hard work, operating with integrity, and innovation. Throughout his career, he has remained committed to conducting business in an ethical and transparent manner, and I’ve seen this myself in many of the meetings between Platts and Gunvor over the years, including times when we agreed on a point of discussion, and on times when we’ve disagreed. His dedication to operating with integrity has earned him the respect of his peers and has helped to build trust with Gunvor’s partners and customers.
Torbjörn is a strong advocate of innovation, embracing new ideas and technologies, and taking risks to explore new approaches.
Overall, Torbjörn’s leadership and management style have been instrumental in the success of Gunvor. His focus on results, sense of a wider mission and ability to adapt to changing circumstances have helped the company grow and thrive in a highly competitive industry.
All that remains for me to say is that Torbjörn is a very deserving recipient of this year’s Award in the “Category of Trading” – Congratulations!