Americas News
Aalpha Energy Opens Fuel Oil Brokering Desk in Houston
OTC Global Holdings (OTCGH) subsidiary Aalpha Energy Monday announced the formation of a new Houston-based fuel oil brokering desk staffed by three former traders, Adam Robinson, Jesse Feid, and Nick Vasti.
OTCGH says the move "greatly expands" its capabilities within the UK and U.S. markets and complements Aalpha's current operations in both the physical and financial crude trading markets.
"While it's very rare for three successful traders to move to the brokerage side of the business like this, each of them recognized an opportunity which we are confident they will take full advantage of," said Joe Kelly, President and COO of OTCGH.
"The newest Aalpha Energy team brings more than 30 years of trading, marketing, logistics and technical knowledge from the physical trading world to OTCGH," said Robinson.
"Our unique collected experience and expertise will deliver great value to clients, especially those seeking to unlock new ideas that provide additional value for their business."
Robinson, as a broker of cracked fuel oil, is said to have spent much of his career in the physical fuel oil market, having worked for BP plc (BP) and Mercuria Energy Group Ltd (Mercuria), and his area of focus will include retail bunker fuel supply.
Vasti, a former engineer with eight years of experience at BP's Texas City refinery, will broker FCU Feed for Aalpha.
Feid, another former BP employee, has previous experience in trading fuel oil paper, high sulfur straight run (HSSR), low sulfur straight run (LSSR) and cracked fuel in both London and the U.S..
