- The UAE’s state-run oil giant is reportedly considering a full or partial acquisition of Gunvor Group commodity trading house, both Bloomberg and Reuters report, citing unnamed sources.
- The value of privately-held Gunvor is unknown; however, Bloomberg notes that the company valued its equity at around $4 billion as of late June and reported over $840 million in H2 2022 profits.
- In April, Gunvor reported a net profit of $726 million for 2021, largely on the back of its trading operations for liquefied natural gas (LNG).
UAE Oil Giant Reportedly In Talks to Acquire Gunvor Trading
