Norwegian fund discontinues energy trading venture

Norway's Vistin group has decided to cease all trading with energy derivatives after a bet on marine fuel prices ahead of the 2020 sulfur regulations failed. Until last week, the venture was headed by a well-known oil analyst.

Torbjørn Kjus, former oil analyst at DNB Markets, headed the fund. He chose to step down last week. | Photo: DNB

A Norwegian fund, which until recently was headed by well-known oil analyst Torbjørn Kjus, has now ceased trading with energy derivatives altogether.

Last week, the fund Vistin Trading announced that it had lost a little over NOK 100 million (USD 11.5 million) speculating on bunker prices. The day before, Torbjørn Kjus resigned from his position as head of energy trading at the venture, which is part of the listed pharmaceutical group Vistin Pharma.

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