Oil trader who made $250M on Russian crude turns focus to Guyana

A German oil trader who made an estimated $250 million trading Russian crude following Moscow’s invasion of Ukraine is now turning his attention to Guyana, aiming to capitalise on the country’s rapidly expanding oil boom.

Christopher Eppinger, 31, plans to invest up to $60 million over the next three years through his company, Petrichor Energy. His plans include acquiring a quarry, establishing a trading office, and bidding for government contracts to transport crude and refined fuels.

Speaking from Georgetown, Eppinger described his excitement about entering what he sees as a high-potential market.

“I’m getting goosebumps,” he said. “This is exactly what I was waiting for my whole life. I’m coming into a new market where everything is possible.”

Guyana, a small South American nation with a population of about 800,000, has undergone dramatic economic transformation since ExxonMobil discovered roughly 11 billion barrels of oil offshore in 2015—one of the largest finds in decades.

Oil production has since surged to more than 900,000 barrels per day. According to consultancy Wood Mackenzie, the government’s share of oil revenues could reach $41 billion over the next five years. Between 2019 and 2024, Guyana’s GDP nearly quintupled to $25 billion.

This rapid expansion has created opportunities for international investors like Eppinger, who gained global attention after a Financial Times investigation highlighted the profits he made trading Russian oil at discounted prices during sanctions.

Eppinger said he has no intention of returning to Russian oil trading, despite tight global supply conditions following geopolitical disruptions.

“You need to leave the casino when you’re winning,” he said. “I was really happy with the money I’ve made and didn’t want it to go much crazier than that.”

He had also explored opportunities in the Middle East, including trading fuel oil from Iraq and petrol from the UAE, but ultimately decided against pursuing them—a move he now considers fortunate given subsequent regional instability.

“I think some higher force was protecting me,” he added.

Earlier this year, Eppinger relocated from Dubai to Monaco and New York. His interest in Guyana was sparked during a conversation with Houston-based traders discussing Chevron’s $53 billion acquisition of Hess, a key partner in Guyana’s oil sector.

“I was very surprised,” he said. “We found a country with resources comparable to—or even exceeding—Norway, yet very few major Western trading groups were active there. It all seemed very new.”

Eppinger’s optimism reflects broader sentiment among investors drawn to Guyana’s transformation. Georgetown has become a hub of construction activity, with cranes dominating the skyline as new hotels, offices, and infrastructure projects take shape.

“Everything is missing here for now, but everything is being developed,” he said. “Having the opportunity to participate in that environment is extremely interesting. It’s insane that nobody is looking at it.”

He noted that Petrichor Energy would begin with quarrying operations, citing strong demand for construction materials as the country builds roads, housing, and industrial facilities.

Guyana’s government has actively promoted the country as an attractive destination for foreign investment. President Irfaan Ali has pledged continued spending on infrastructure and public works, supported by oil revenues that are partly channelled into a sovereign wealth fund.

At a February event with ExxonMobil executives, Ali emphasised the country’s stability and investor protections.

“Here is where the rule of law applies,” he said. “Here is where your investment is safe, sound and protected—and that is how it will always be.”

The government has already overseen major infrastructure projects, including a $260 million Chinese-built bridge across the Demerara River, linking Georgetown to a growing industrial hub on the West Bank.

Eppinger said he has met with senior government officials and described them as “very supportive” of Petrichor Energy’s plans. (Reproduced from the Financial Times) 

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