Crude oil is a natural fossil fuel which, once refined, is used to create most of the energy sources used industrially and domestically, from gasoline and diesel to power vehicles, to jet fuel for aircraft and fuel for ships. It is also used widely in the production of chemical products such as pharmaceuticals, solvents, fertilisers, pesticides and plastics. In 2016, we sold over 129 million tonnes of crude oil. We trade or ship around 3 million barrels of crude oil every day.
Our crude trading business has long-standing relationships with producers and refiners in every part of the world. We help the former to effectively market and distribute their daily production, and the latter to secure a reliable and consistent supply of the right quality crude at the right time.
We are transacting in over 100 different grades of crude oil in locations spread around the globe. We are active in all major centres where crude is produced, refined and traded, enabling our customers to benefit from critical intelligence and access to the most appropriate market. As a physical trader, we can deliver crude anywhere our customers require. We are one of the world’s largest spot charterers of crude vessels and have a dedicated fleet of crude vessels of various sizes as well as access to storage on land around the world.