Shell to Globalize Trading Activities
The Royal Dutch/Shell Group is planning to integrate its
worldwide trading activities under one banner in order to take
advantage of energy trading opportunities. 'Shell Trading' will act
as a singular worldwide network of Shell's trading activities.
The value of globally trading natural gas, crude oil, refined
products and electrical power and chemicals will be enhanced due to
the integration, the company says.
"Over the past several years, Shell companies have established
leading positions in several trading businesses which include crude
oil, oil products and natural gas," said Paul Skinner, group
managing director. "We now see a significant opportunity to
consolidate our current trading platforms in an integrated
approach, enabling us to compete strongly in the evolving energy
trading market. We expect to grow value in this business by
leveraging our scale, global reach, talent and financial strength -
it is an exciting prospect."
Mike Warwick, executive vice president of Shell Global
Businesses and president of Shell International Trading &
Shipping, will head up the new trading organization. Shell Trading
will begin operations on Jan. 1, 2001. It will include Shell's
current trading platforms for natural gas in North America through
Coral Energy and in Europe through Shell Energy; crude and oil
products worldwide; and chemical feedstocks in Europe and the
"Shell Trading will possess the skill base and international
scope to capitalize on the extensive trading opportunities inherent
in Shell's asset and market positions around the world," said
Warwick. The new organization will set up key trading and marketing
operations in North America, Asia, the Middle East and Europe.
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