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Vistin Pharma’s ex-Head of Energy Trading joins investment firm

13 Jan 2019

Torbjørn Kjus, the former Head of Energy Trading at Oslo-based metformin producer Vistin Pharma, on Friday (11 January) joined industrial investment firm Aker ASA as Chief Economist.

“Kjus comes from the position as Asset Manager in Vistin Trading, but is better known for having worked as DNB Markets’ Chief Oil Analyst for close to 11 years until the summer of 2018,” said a statement from Aker.

“He has 18 years of experience in analyzing global energy markets, both from the industry (Norsk Hydro in Oslo and BP in London) and from the financial sector.

“Kjus is educated at the Norwegian School of Economics (NHH) in Bergen and holds a MBA in Accounting (State Authorized Public Accountant).”

Torbjørn on Wednesday (3 January) decided to resign from his position at Vistin Pharma to pursue other interests.

Vistin Pharma’s energy trading division lost NOK 101.3 million (US $11.8 million) on financial derivative contracts which were meant to take advantage of the global change in sulphur specifications for marine fuel in the global shipping industry in 2020.

Moving forward, the firm says it will continue to manage the outstanding financial derivative contracts, but will not enter into new energy trading investments and close the energy trading business.

Related: Vistin Pharma in US $11.8 million trading loss over IMO 2020 futures
Related: Vista Pharma closes energy trading business on losses in IMO futures

Published: 14 January, 2019
 

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