Core Petroleum

Core Petroleum LLC is a privately-held company formed in 2009, as a limited liability company in the Commonwealth of Virginia, USA. The companys principal office is located in the New York Metropolitan area. Core is a marketer of physical crude oil cargoes throughout the world. As part of its services, Core operates and manages on behalf of its clients ocean going vessels ranging from Panamax sized tankers to VLCCs.  Additionally, Core advises its clients in the use of a variety of risk management techniques to mitigate price and counterparty risks and exploit market dislocations. Finally, through an affiliate, Core is engaged in the development of energy infrastructure projects. Cores clients include a select group of energy traders, producers, refiners and sovereign oil companies.

Cores business strategy is based upon the following principles:

• Develop relations with key industry participants. Core management have developed long standing relationships with oil producers, refiners, sovereign oil companies and financial institutions based upon mutual trust and Cores dedication to providing comprehensive services to its customers in Cores geographical areas of expertise.

• Employ an integrated approach to trading, marketing, shipping and risk management. Cores trading, marketing, shipping and risk management staffs work as a unified team to achieve successful results for Cores clients.

• Exploit inherent market arbitrages. Cores integrated approach enables its customers to exploit inherent market arbitrages.

SHIPPING & LOGISTICS   

   On behalf of its clients, Core currently operates and manages 25 to 30 spot and time charters for ocean going vessels ranging in size from Panamax tankers to VLCCs. Cores team of shipping professionals manage all aspects of logistics on an around-the-clock basis. They maintain relations with key ship brokers and ship owners to access the newest, most sophisticated shipping assets.  In addition to chartering and managing tankers on behalf of its clients, Core has developed ship to ship transfer capabilities in key locations enabling its clients to minimize freight costs and maximize logistical arbitrages.

RISK MANAGEMENT 

     Cores underlying risk management philosophy is to minimize exposures to market price risk and to exploit market opportunities on a limited risk, hedged basis. Core advises its clients in the use of the entire spectrum of hedging tools and techniques to mitigate exposure to market price volatility including the use of commodity futures, options and OTC commodity derivatives. Further, Cores risk management expertise enables its clients to value and exploit market arbitrages and options in conjunction with their physical energy activities and shipping operations in order to maximize profitability.  In addition to market price risks, Core assists its clients in mitigating exposures to counterparty risks by arranging for the transfer of such risks to financial institutions including commercial banks and insurance companies.  Core maintains relations with first class, global commodity futures brokers, derivative market makers and financial institutions for the benefit of its clients.

TRADING & MARKETING   

   Core was established with a principal focus on trading crude oil originating from Latin America and Canada. Cores management are particularly experienced in the marketing of heavy and or sour grades of crude oil.  In addition, Core also markets West African, North Sea and Middle Eastern crude grades. Currently, Core transacts up to 300,000 bbls/day of crude oil. Sales are arranged with refiners located in Latin America, the US West & Gulf Coasts, Europe, and the Far East including China, Japan, South Korea and India.