Benoit Roulon, Gunvor Group's global head of crude oil trading, has resigned, extending a series of high-level departures at the Geneva-based energy trading company.
Roulon's exit follows the retirement of veteran crude trader Andrew Cahill and the departure of Dated Brent trader Neil Hitchinson last year.
Roulon joined Gunvor in 2023 after a long career at French energy giant TotalEnergies SE, where he held senior management roles in Singapore and Houston.
Gunvor declined to comment on Roulon's departure, which comes amid challenging market conditions for energy trading houses.
In August 2024, Gunvor reported its lowest net profit since 2021, at $417 million.
Despite the challenges, Gunvor has continued to expand its crude and oil products volumes, increasing them by 42% in the first half of 2024.
The company has also made strategic investments in physical markets, including acquiring a fuel retail network in Pakistan and financing Gabon's acquisition of producer Assala Energy.
Gunvor remains a major player in the physical North Sea oil market, demonstrating its influence last summer by bidding heavily on crudes that define the Dated Brent benchmark.