Early Life and Education
Torbjörn Törnqvist was born in Stockholm, Sweden, in 1953. He pursued higher education, earning a business degree from Stockholm University. His early interest in business and finance laid the groundwork for his future career in the commodities trading industry.
Rise to Success
Törnqvist's career in the oil industry started at British Petroleum (BP) in 1977. He later worked at Scandinavian Trading Co. and Intermaritime Group Petrotrade before co-founding Gunvor in 2000 with Gennady Timchenko. Under his leadership, Gunvor became one of the world's largest independent commodities trading companies, specializing in oil and energy products. Gunvor's early success was driven by its ability to capitalize on the opportunities in the Russian oil market.
Key Business Strategies
Törnqvist's leadership has been marked by strategic investments in industrial infrastructure and a focus on expanding Gunvor's global presence. The company has trading offices across the world. Gunvor has also invested in oil storage facilities, refineries, port facilities, and terminals, giving it a competitive advantage. In recent years, Gunvor has emphasized trading in energy transition commodities. In 2016, Törnqvist reduced his stake in Gunvor but continues to lead the company. In December 2025, Törnqvist announced that he would sell his stake to a group of 60 senior employees in a management buyout, stepping down from his role as CEO.
Philanthropy
Since 2000, Gunvor has allocated a percentage of its profits towards charity through the Gunvor Foundation. Törnqvist is also an active supporter of AIK Hockey and has contributed significantly to the team. He also contributes to the World Wildlife Fund and the Prince Albert II of Monaco Foundation.
