BRUSSELS, Aug 25 (Reuters) - Global energy trader Gunvor's first-half net profit slipped to $803 million from $841 million a year earlier, it said on Friday, citing lower price volatility in gas and oil markets.
The Geneva-based trader's revenue fell to $61 billion from $106 billion owing to lower gas and oil prices as the market began to normalise after the turbulence caused by Russia's invasion of Ukraine last February.
Gunvor, one of the top five oil traders, achieved record full-year net profit of $2.36 billion in 2022 while rivals such as Mercuria and Vitol also posted bumper profits after the extreme market dislocations due to western sanctions on Moscow.
Earnings before interest, tax, depreciation and amortisation edged up to $1.83 billion in the first half, from $1.79 billion in the same period last year.
"While crude oil and oil products trading margins were impacted by lower price volatility, LNG trading continued its strong performance thanks to its profitable book of long-term contracts," the company said, adding that its traded LNG volumes fell. (Reporting by Julia Payne Editing by David Goodman )
