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. We are one of the world’s leading marketers of crude oil and oil products, supplying millions of barrels of oil every day to customers around the world. We source crude oil and oil products from a range of suppliers – through our marketing offices in Houston, New York, Mumbai and Shanghai. To support our business, we have a substantial partners shipping portfolio and access to a range of logistics, storage and pipeline capabilities. We also market natural gas. We are a leading supplier of petroleum products. Natural gas is a hydrocarbon gas mixture largely made up of methane and some other gases. The gas is typically removed from deep underground rock formations with drilling rigs, processed to remove impurities such as water and carbon dioxide, and sold as consumer fuel for heating, cooking or generating wholesale electricity. It is also used to power vehicles and in the manufacture of plastics and chemicals.
Our crude / gas / petroleum 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. Our partners 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. Our gas teams operate across continents – Europe, Asia and the Americas – in both pipeline product and LNG. We work with producers, importers, wholesalers, distributors and industrial users, and supply gas both as a pipeline product and in liquefied form, under a variety of fixed and floating gas hub indexations, oil indexed formulae and other related commodity pricing structures. We are happy to commit to long-term supply and sales contracts, plus we can respond swiftly and innovatively whenever our customers need us to. Our natural gas business is part of an integrated cross-commodity solution that makes us an ideal partner for both producers and end users.
Our market-leading team combines specialist knowledge with global expertise. Over many years we have established long-term relationships with national/private conventional oil / gas companies, shale oil/gas majors and independent CDM 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.
We supply millions of 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 partnerships with the biggest refineries with a combined refining capacity to process 25 Mn Barrels per day.
Middle distillates – We supply jet fuel, heating oil and diesel globally and work with our partners to meet all their needs incorporating logistics, finance and risk management. With a global view of the marketplace, and the ability to ship, store and blend, 1WEC is ideally set-up to support customers with comprehensive services for the supply of middle distillates. Our commercial hubs in New York, Geneva, London, Dubai, Singapore, Shanghai and Connecticut position us centrally in each of the world’s main trading regions.
Across the continent, we have access to proprietary(partners) and leased energy infrastructure, from storage tanks to railcars and pipelines, which enables us to source and transport crudes to market from production locations to major market hubs.
- Brent Crude is a trading classification of sweet light crude oil that serves as one of the two main benchmark prices for purchases of oil worldwide, the other being West Texas Intermediate. This grade is described as light because of its relatively low density, and sweet because of its low sulphur content.
- West Texas intermediate – also known as Texas light sweet, is a grade of crude oil used as a benchmark in oil pricing. This grade is described as light crude oil because of its relatively low density, and sweet because of its low sulfur content.
- Natural Gas – We are an established player in the principle gas markets, both physical OTC and exchange-traded. We secure medium- to long-term contracts and partnerships for access to pipeline gas production, transportation and storage for both associated and non associated gas.
- Liquefied Natural Gas (LNG) – 1WEC is an independent trader of LNG in the world. We support the development of new LNG markets by providing reliable and efficient LNG solutions, which included financing, supplies, shipping, and access to regasification infrastructure.
- Natural gas liquids (NGLs) are hydrocarbons—in the same family of molecules as natural gas and crude oil, composed exclusively of carbon and hydrogen. Ethane, propane, butane, isobutane, and pentane are all NGLs.
- LPG – It is a flammable hydrocarbon fuel for domestic and industrial use.
- Gasoline – Also known as petrol, it is a flammable liquid derived from refining crude oil. It is vastly used in internal combustion engines of motor vehicles.
- Naphtha is a flammable hydrocarbon; is used to produce many petrochemicals. It is used to dilute heavy crude oil to reduce its viscosity to facilitate its transport. It is also used as a fuel for stove, lanterns, lighters etc.
- Diesel – Same as gasoline, it is a flammable product derived from refining crude oil. It is used primarily as a fuel in heavy machinery, transpiration vehicles, etc.
- Aviation Turbine Fuel – Designed for use in aircrafts powered by gas-turbine engines.
- Kerosene – Also known as paraffin, Kerosene is a combustible hydrocarbon liquid derived from refining crude oil. Widely used as a fuel in aviation as well as households.
- Marine Fuels
- Residual Marine Fuels.
- Heavy Fuel Oil.
- Lubricating oils.
- Wax.
- Asphalt.
- Sulfur is naturally present as an impurity in fossil fuels.
- The removal of organosulfur compounds from crude oil is an important aspect of all countries to reduce air pollution.
- The sulfur compounds from gasoline are generally removed by treating it with an alkaline solution sodium plumbite.
- It is a raw material for pharmaceuticals and fertilizers.
- Petroleum Coke is a solid carbon material that is a final product of refining crude oil.
- It is the co-product of several processes used in petroleum refining to upgrade “residuum” into gasoline and middle distillate-range fuels.
- It consists mostly of carbon and variable amounts of sulfurs and heavy metals.
- It is used in industrial uses as a fuel and in the production of batteries, steel, and aluminium.