Partnering with producers
Our market-leading team combines specialist knowledge with global expertise. Over many years we have established long-term relationships with national oil companies, oil majors and independent producers. We use our expertise in managing transportation via pipeline, barge, train, truck and all sizes of vessel to efficiently and reliably transport crude to refiners worldwide.
When appropriate, our traders work alongside our finance and E&P teams to develop commercial structures which allow us to finance producers’ operations in return for offtake.
Working with refiners
Today, we supply over 3.8 million barrels per day of crude oil and feedstocks to the refining industry globally. We take the time to understand the specific requirements and preferences of refiners worldwide and have a long track record of consistently and reliably sourcing the right feedstock to meet our customers’ needs at the right time.
We currently have an ownership stake in six refineries worldwide with a total refining capacity of 480,000 barrels per day.
With a Pan-American presence, we are involved in all major markets from Canada to Latin America.
Across the continent, we have access to proprietary and leased energy infrastructure, from tanks to railcars and pipelines, which enables us to source and transport crudes to market from production locations to major market hubs.
The growth in domestic US oil production has significantly impacted US crude oil markets in recent times. Our team has been at the forefront of these changes, anticipating the evolution of flows and supporting the market’s development. This enabled us to be the first to export crude from the US after the lifting of the US export ban.
Europe & the Atlantic Basin
Atlantic Basin crude flows have been particularly affected by the rise in US production which has displaced crude from West Africa and Latin America. We have led in finding new markets for the displaced crude in locations around the world.
We have a highly experienced Atlantic Basin team which works across Africa, the Mediterranean and the North Sea.
In the Baltic, we are among the largest exporters of Urals crude and a major trader of North Sea crude, supplying refineries across North West Europe.
We have a long history of working with governments and national oil companies and are active across the African continent from Egypt to South Africa, with a particular focus on parts of West
Africa. West African crude is a global arbitrage barrel which we transport to multiple markets in both the Eastern and Southern hemisphere.
Our activities in the Eastern hemisphere are broad, from shipping sour crude in the Arabian Gulf to delivering sweet crude to our refinery in Australia, and delivering Russian crude to various customers in North Asia.