Base Oil Trader at Fosad Consulting

Location – Mainland, Lagos

An international downstream oil and gas company is hiring for the position of Base Oil Trader for its Nigerian operations.
Job Summary

Responsible for the development and promotion of Base oil trading and interacting with companies involved in the refining, distribution, transportation, storage, blending and sale of hydrocarbons

Qualifications

• Minimum of a Bachelor's degree in a relevant or equivalent field
• Minimum of 5 years’ experience in petroleum products trading, preferably Base oil trading in West Africa
• Willingness and ability to travel up to 25% of the time in order to fulfill the responsibilities of this position
• Good knowledge of West & East African Markets
• Knowledge of storage management facilities- Blending
• Knowledge of refineries production in the African area and flows arriving to Lagos from other markets
• Knowledge and experience in trading refined products such as: Base oil, Gasoline and Naphtha, including derivatives management

Key Responsibilities

• Coordinating hedge strategies for cargoes, barges and storage to take advantage of market structure opportunities along the forward curve.
• Sourcing of Base Oil, Gasoline, Naphtha and blending components.
• Contributing to development of business contracts, including evaluation and development of new opportunities.
• Participating in negotiations.
• Ensuring compliance with company policy and procedure, International Commercial (Inco) Terms, pipeline specifications, New and all local rules and regulations on energy trading.
• Remaining current on the legal and economic issues affecting the hydrocarbon industry.
• A sound understanding of the relationship between physical and paper/derivative markets and the use and application of risk management instruments and techniques in general, but specifically related to structured transactions like storage transactions, quality and time exchanges.
• A sound understanding of contracts, finance, insurance, chartering, storage, etc., related to international energy trading.

Capabilities

• Ability to take initiative and be innovative
• Demonstrated exemplary negotiation skills.
• Experience managing profit and loss margins.
• Excellent written and verbal communication skills.
• Effective organization skills with the ability to prioritize workload.
• Acute attention to detail and ability to execute work with minimal error margin.

KPI’s

• Revenue and Margins
• Volume and Profitability
• Effectiveness of Physical and Derivatives Strategy for the Trades