Additionally, and in support of its upstream oil, gas and mineral exploration activities, the Company engages in strategic trading opportunities for these commodities.
H Oil group has historically carried out an international oil and products trading business with volumes exceeding 100,000 bbls/day.
Our company has handled Nigerian Crude Oil, including 30,000 bbls/day of Forcados, 30,000 bbls/day of Oso Condensate and 30,000 bbls/day of Pennington, as well as supplying to Nigeria (through NNPC/PPMC – the Nigerian National Petroleum Corporation’s Pipelines and Products Marketing Company) approximately 600,000 MT/year of petroleum products, mainly Gasoline, Kerosene and Gasoil.
Additionally, H Oil negotiated with PPMC a barter agreement whereby H Oil supplied products versus crude oil allocation in payment. Furthermore, we have supplied lube-oil-grade crudes such as Arab Light to Nigeria for local lubricants products in Nigeria.
In Russia the Company lifted crude oil products providing pre-export finance facilities.
H Oil negotiated processing agreements with Mediterranean refineries, mainly for North African crude oils. The Company has also been active in South America, specifically Argentina and Uruguay, delivering heating oil during the winter season.
H Oil has historically assisted developing countries – West African and Caribbean – by operating crude oil contracts between governments, arranging trading and processing of the crude and delivering deficit products. Further, H Oil has been involved in a processing agreement in the Far East to obtain Gasoil and Kerosene to supply Vietnam.
H Oil had an association with the Japan Energy Corporation (JECO), one of the largest oil corporations in Japan.
Currently, H Oil is about to close substantial crude oil and petroleum products long-term trading contracts involving some of the largest international market actors. H Oil is also working on a number of sizeable LNG trading operations, in collaboration with world-renowned LNG professionals.