Gunvor rebrands as Centalion and moves corporate headquarters to Singapore

Corporate rebrand and redomiciling

Gunvor Group Ltd announced on Friday that it has changed its legal name to Centalion Group Ltd and will transfer its corporate headquarters from Cyprus to Singapore. The company had maintained its corporate base in Cyprus for the past 20 years and has operated an office in Singapore since 2006. The name change, which takes effect immediately on 2 October 2026, follows an internal referendum conducted in July 2026 after six months of employee engagement and market reviews. Corporate leadership confirmed that the new name is pronounced "Sen-TAL-yon", designed to rhyme with the English word "medallion". The relocation to Singapore is supported by the city-state's established legal framework, financial infrastructure, and international business network. Main trading desks will continue operating in Geneva and Houston, Texas, while the firm maintains additional hubs in Calgary, London, and Stamford.

Strategic shift and executive leadership

The corporate restructuring follows the completion of an employee-led management buyout in December 2025. Torbjörn Törnqvist, Gunvor's billionaire co-founder who led the merchant for 25 years, stepped down as chief executive officer and sold his majority stake during that ownership transition. His departure came after US authorities blocked Gunvor's proposed 22 billion dollar acquisition of Russian-owned oilfields from sanctions-hit Lukoil, with US officials characterizing the business as a "Kremlin puppet". The partnership structure now places ownership in the hands of the company's employee workforce under a revised governance model. Gary Pedersen, who serves as chairman and chief executive officer from the Houston office, framed the transformation as an expansion of the firm's physical trading footprint.

Pedersen addressed the rebrand and strategic path in a statement released on Friday.

The name Centalion reflects who we are: one team, moving together, at the heart of the global energy markets. We're making this move from a position of strength. Together we have built a disciplined, entrepreneurial firm that is accelerating our position as one of the world's leading physical energy and metals traders. Singapore and our new identity are the next chapter in that story.

Trading portfolio and asset investments

Centalion reported 144 billion dollars (120 billion Swiss francs) in revenue for 2025 and employs more than 2,000 people globally across its trading operations. The merchant recorded its highest half-year trading volumes during the first six months of 2026. Its core physical commodities portfolio covers crude oil, refined petroleum products, natural gas, liquefied natural gas (LNG), power generation, battery storage systems, biofuels, and carbon credits. The company has also expanded its commercial activities into base metals and minerals, supported by an international maritime shipping fleet. Beyond commodity merchandising, Centalion acts as an equity investment partner in physical energy infrastructure, holding stakes in storage terminals, oil refineries, and regional power plants. The relocation follows similar moves by other trading houses, including Trafigura, which transferred its legal headquarters to Singapore 14 years ago. Rival merchant Glencore also reported on Friday that it expects trading division profits to exceed 5 billion dollars for the current year.