Gunvor’s Global Head of Crude Trading Roulon Leaves Company
(Bloomberg) — Gunvor Group’s global head of crude oil trading left the company, following the departure of two senior traders last year.
Benoit Roulon left after two years in the role, a person familiar with the matter said, asking not to be identified because the matter is private. Prior to Gunvor, Roulon spent his career at French energy giant TotalEnergies SE, rising to managing director in its Singapore office and later general manager in its trading unit in Houston, his LinkedIn profile shows.
A spokesman for Geneva-headquartered Gunvor declined to comment. Roulon didn’t answer a message sent to him on LinkedIn.
Already one of the world’s biggest traders of oil, Geneva-headquartered Gunvor had expanded its crude and oil products volumes by 42% in the first half of 2024. It’s been growing its physical market portfolio – buying into a fuel retail network in Pakistan and financing Gabon’s acquisition of producer Assala Energy.
Like other energy trading houses, Gunvor has been facing an increasingly challenging market since the end of boom years in 2022 and 2023. In August, the company posted net profit of $417 million – its lowest since 2021.
Last year, Gunvor’s veteran crude trader Andrew Cahill retired after more than a decade of trading in North Sea crude. Its Dated Brent trader Neil Hitchinson also left the company having been there for a year.
Gunvor is a very active participant in the physical North Sea oil market. The firm showed its clout last summer when, along with Trafigura Group, it bid heavily for crudes that define the most important Dated Brent benchmark. The activity helped to boost physical prices across the Atlantic.
–With assistance from Archie Hunter.
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