Gunvor Eyes US Oil & Gas: A New Investment Strategy

Gunvor, a commodity trading firm, is seeking to invest in American oil and gas production following a blocked deal with Russian company Lukoil. The Treasury Department had opposed the deal, labeling Gunvor as a Kremlin puppet. Gunvor aims to improve its relationship with the current U.S. administration by investing in the energy sector. They are considering backing new private companies and providing financial support to existing producers. Gunvors focus is likely to be on natural gas, and they have shown interest in acquiring assets from Baytex Energy in South Texas.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.