Synterra Energy

Synterra Energy have been trading in both Crude Oil and Refined products for over 15 years. We import petroleum products and deliver offshore to IOC's operating Drilling Rigs. Importing is can be very profitable but requires vast experience. Synterra have such experience. 

We are Principal Product Market Traders that operate in the International marketplace as buyers, sellers and distributors of Refined Petroleum Products and Crude Oil. Soltaire Energy are also firmly engaged in the Nigerian offshore as Marine Suppliers as well as being an Oil Services company. Our strategy is to add value along the distribution chain and Supply Network to boost indigenous capacity. We are committed to all the ideals of Corporate, Social and Environmental responsibility and the sustainable development of the Nigerian Oil and Gas Industry

• There are a number of opportunities for physical trading of refined products which involves importing  gasoil, gasoline, Jet A1 , Bitumen and Base Oils
• Many require leasing local storage or entering into a Collaboration Agreement with local tank farm owners.
• Importing petroleum products into Nigeria is a risk management exercise which   involves exposure to  foreign exchange risk,  currency default risk,  open market risk, counterparty credit risk and operational risk
• Nigerian banks cannot fund petroleum import transaction with credit facilities as all facilities must be collateralized . Interest rates on loans in Naira are prohibitive.  This makes any trade transaction using locally obtained credit  unprofitable.
• Trading desk requires access to US Dollars on flexible and competitive terms.
• Needs to have an active Naira hedging strategy and margin targets.