NEW YORK, Aug 2 (Reuters) -
Gunvor's head of U.S. gasoline trading and executive
committee member Dmitri Sinenko is leaving the Swiss trader to
join Russia-backed rival Litasco, two sources familiar with the
move said on Friday.
Sinenko's decision to depart was communicated to Gunvor
employees over recent days, one of the sources said.
Gunvor did not immediately respond to a request for comment
and Sinenko could not be contacted on his LinkedIn profile.
Sinenko's role at Litasco could not be learnt
immediately. Calls to Litasco's U.S. arm Lukoil Pan Americas did
not connect.
Sinenko, widely considered one of the top gasoline
traders of the past decade, joined Gunvor from Noble Group at
the end of 2017 as the Asian trading group restructured after
suffering heavy losses and high debt. He had spent a decade at
Noble trading gasoline and distillate fuels.
He joined Gunvor at a time that the energy trader was
just setting up its U.S. arm, taking charge of building and
expanding the prized gasoline trading book in the country.
U.S. gasoline consumption makes up about 10% of
worldwide oil consumption, making the business crucial to energy
traders' profits.
Litasco, also based in Switzerland, is the trading arm
of Russian energy giant Lukoil. It moved some
operations
to Dubai
and
scaled back
some other functions in 2022 after Western sanctions on
Russia's energy industry for the
war in Ukraine.