By Arathy Somasekhar
HOUSTON, June 12 (Reuters) – Exxon Mobil was poised to name Alex Volkov as head of global trading, two sources with knowledge of the matter said.
On Thursday, Reuters reported that sources said Tracey Gunnlaugsson, who led the trading division since 2023, was set to retire. Exxon declined to comment.
Reuters could not immediately reach Volkov for comment.
Volkov, based in Texas, has spent nearly three decades at Exxon, holding roles across the U.S., Russia and London, according to his LinkedIn profile. He has served as a vice president in several parts of the business, including global LNG marketing, upstream commercial, strategy and business development, and, currently, commercial and integration.
David Brown, who was an international crude trader, is also retiring from Exxon, three sources said.
Exxon in May reported a $3.9 billion paper loss stemming from derivatives in the first quarter which pushed net income down to its lowest level in five years. The losses contrasted with the first-quarter trading profits of European oil majors, which have spent decades building trading desks and reaped billions of dollars from this year’s energy supply crunch triggered by the U.S.-Israeli war on Iran.
(Reporting by Arathy Somasekhar in Houston; Editing by Nathan Crooks and David Gregorio)
