Trade finance in oil and gas
A very experienced all-round team Chambers I ask my team what business they currently have and expect to have at certain banks to make sure we do not run into any issues. One counterparty issues a Documentary LC 3 mio USD less, pricing off current month, and because the market is heavily contango I need to deploy my best negotiating skill in order to get a positive outcome. We are trade finance in oil and gas selling to several counterparties that I will require security prior to delivery of product, so I make sure to note those trades and reach out to their credit departments. Shower and head into office.
Examples of our work: Notify me when I can apply for a Graduate position. This includes aspects such as sale intentions and any shipment details that could affect how we finance the deal and what security we use. We have dedicated trade and commodities teams across our office network, including a substantial UK team, working on the full trade finance in oil and gas of the commodity markets — hard and soft commodities, oil and energy, futures and derivatives, and the newer trade finance in oil and gas such as carbon trading. Once the flurry of the day has slowed down, I finally have time to focus on reviewing ongoing trades, trade contracts and to lay out what has to be completed the next trading day.
Grace Asemota Legal Director. Providing guidance to Finance Officers and Traders in difficult or unfamiliar situations. Red flags for urgent, blue for later this afternoon.
It is important to review them line by line to ensure they are valid and cashable. Shower and head into office. An email just came through with the latest scheduled Pipeline cycle for Gas Oil so I will need to arrange for a bank to finance it.
Geraldine Butac Senior Associate. A bank accepts to finance the deal. There are quite a few today so I need to approve them soon, Treasury will need time to set them up for Monday morning. Good news, need to alert my operator. Started in Houston Treasury Interests:
I make my way down for a lunch appointment with one of our banks. Started in Houston Treasury Interests: We are purchasing from a counterparty that will require a letter of credit, loading a vessel that will ship to South America, and discharging in Ecuador.
Just received a message from our operator and it looks like we have a prompt trade that will load over the weekend. Grace Asemota Legal Director. An email just came through with the latest scheduled Pipeline cycle for Gas Oil so I will need to arrange for a bank to finance it.
Another bank wants to discuss discrepancies in the documents I presented, eventually I manage to convince them that the Trafigura position is correct and they come to an agreement. Once the tempo has slowed down I have time to focus on housekeeping which includes trade finance in oil and gas internal system, review and comment on new trade contracts and prepare for the next trading day. If there are any errors or items missing, I will need to request the counterparty who issued to revise as soon as possible to ensure the LC is cashable prior to the risk date of the trade. When I know things are coming up on the horizon, I can approach banks and keep them trade finance in oil and gas to date of potential situations. We advise on the full range of financing options such as structured trade and commodities finance, general trade and trade finance including Letters of Credit and other payment mechanismsexport finance, supply chain financing, and receivables financing.