Motiva announced today its intention to form a products supply and trading organization for transport fuels and refinery intermediates.
Houston, June 11, 2015 -- Motiva Enterprises LLC (Motiva) announced today its intention to form a products supply and trading organization for transport fuels and refinery intermediates. The insourcing of this activity will give Motiva greater flexibility to capture market opportunities.
"Bringing our trading operations in-house is an exciting opportunity for Motiva," said Todd Fredin, vice president of supply, trading and logistics for Motiva. "This is a natural progression of our business as we seek to connect more closely with the market through direct relationships with customers and counterparties."
The move toward in-house trading began in late 2014 when Motiva began negotiating term contracts for its gasoline and diesel products. The company intends to expand this focus to include all trading activities for transport fuels and refinery intermediates beginning January 1, 2016.
"Seeking and implementing opportunities to enable Motiva to better see, call and capture the market supports our ultimate goal of becoming the safest and most profitable downstream business in the United States," said Dan Romasko, president and CEO of the company. "We value our relationship with our owner companies, who have supported us significantly over the years. With this change, we hope to provide greater value to them through more active participation in the market."
The company will be seeking outside talent to fill several positions within the new trading organization to supplement its current capabilities.