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Gunvor Group Sees Revenue Rising 23% to $80 Billion This Year

Gunvor Group Ltd. estimates revenue will increase 23 percent to $80 billion this year, co-founder and Chief Executive Officer Torbjorn Tornqvist told Vedomosti in an interview that was confirmed by spokesman Anton Kurevin.

Gunvor has not received any “administrative” support from the Russian government to build its energy trading operations, Tornqvist said. The commodity trader’s other founder, Gennady Timchenko, hasn’t used his acquaintance with Prime Minister Vladimir Putin to advance the business, according to the interview.