Crude Originator

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INEOS Group

INEOS is a global chemical, manufacturing, and energy company. It comprises of 36 businesses, spanning across 194 sites and 29 countries, employing 26,000 people worldwide. Our core values include excellence in safety, health and environmental performance; Encouragement of innovation, entrepreneurship and reward for achievement and empowering employees to create real value.

INEOS Energy

INEOS Energy produces and trades oil, gas, Liquefied Natural Gas (LNG) and carbon credits. The key operated assets are UK North Sea, which produces natural gas from Breagh and Clipper South, and US South Texas Eagle Ford, which produces oil, gas and NGLS from 172,000 acres.  

Job Title

Crude Originator

Business Unit

INEOS Energy Trading USA, part of INEOS Energy division

Location        

Houston

Summary of Position

The Crude Originator will be responsible for developing and structuring crude related transactions. He/she will work within the crude trading team to obtain barrels needed for trade and export strategies. He/she must have a deep understanding of US crude flows and be familiar with key producers/suppliers in the crude market. The Crude Originator will originate and structure crude related transactions to drive value, create profit and reduce costs. He/she will adherence to well defined controls within a strict framework of delegated authorities.

Responsibilities AND Accountabilities

• Work with the Crude Trading team, and use analysis and data, to identify key trading targets and negotiate and execute Purchase GTCs with selected counterparties. Ensure trading team has appropriate framework contracts in place.
• Identify and execute opportunities to enter crude pipeline arrangements to reduce transportation costs and/or create revenue.
• Onboard new customers and ensure that KYC checks are completed, and NDAs signed prior to entering commercial discussions.
• Identify opportunities to bid/tender for crude supplies/sales, increasing the revenue stream. Lead the bid preparation and tender process, seeking input from Trading, Operations and Legal.
• Understand warehousing of origination risk, including credit and value at risk, working closely with the Risk team to manage these risks effectively. Work with the Risk team to assess counterparties credit limits and ensure that appropriate credit support is obtained.
• Monitor and report on the performance of crude optimization and origination activities.
• Develop external relationships with a view to originating opportunities which will create additional value.
• Work with the IETM team to identify opportunities in the crude market to drive the progress of IETM’s carbon roadmap and thereby contribute to the INEOS Group sustainability agenda.
• Produce reports and presentations to educate and support internal businesses.
• Work with Finance to ensure reconciliation of management information (volumes, price, etc) to financial accounts is completed and issues are addressed.
• Represent IET USA at industry energy events, summits, conferences etc.
• Assist with ad-hoc requests to help support the IETM team.
• Act as the focal point between office functions.

Qualifications

• Bachelor’s Degree with 5+ years of relevant job experience.
• Strong knowledge of US crude markets, especially production sourced from the Permian Basin.
• Experience working with US refiners would be an advantage.
• Strong knowledge of pipelines and flows from primary US basins.
• Proven track record for identifying, structuring, articulating, and executing transactions.
• Innovate self-starter with a commercial mindset.
• Strong communication and interpersonal skills.
• Able to develop and maintain profitable customer relationships.
• Evaluate potential transactions with basic analytical skills.

Behavioral Skills

• Excellent people skills to interact with external and internal contacts both at executive level and a technical level.
• Team player with a flexible ‘can do’ attitude.
• High energy levels and a hands-on approach.
• Highly driven, determined & hard working – able to deliver against tight deadlines.
• Ability to challenge sensitive issues constructively whilst maintaining strong working relationships.
• Maintain close contact with international team members.
• Proactively identify and communicate potential issues with the appropriate teams or stakeholders.
• Make sure problems raised are followed up and worked on until completion.
• Be versatile and enjoy working within a team environment.
• Excellent verbal, written and presentation communication skills.