David Jorbenaze

I am a specialist in oil & gas trading with in-depth knowledge of all aspects of the energy supply value chain. I have extensive experience in trading a large range of crude oil and oil products, including developing new profitable supply and trading businesses, gained while working for major internationally established oil companies (Unipec, ChevronTexaco, Total Energies). 

I am marketing and trading crude oils and oil products from key production hubs and supplying major refinery systems within EMEA region with arbitrage coverage to Asia and Americas.

After graduating with a chemical engineering degree (with a major in oil and gas refining), I took several further courses at world-leading institutions to further expand my knowledge about the energy trading business and markets.

I started my career in the operations department at Total Energies, operating oil products supply to system refineries and developed into a supply trader position. Subsequently, I was head-hunted by Chevron (Texaco) where I was responsible for the marketing of upstream crude oil production, refinery system supply and trading. Later I was recruited by Unipec (Sinopec), where I supplied the company’s large refinery system, marketed upstream crude oil production, optimized around the supply value chain and developed trading businesses. In my current role at BG Energy, I am supplying and trading crude oil and oil products and handling all aspects of trading transactions including operations, shipping and risk management. A substantial part of my current position is new business development.

I am now open to new opportunities and looking for a trading (supply and marketing) or business development role within oil supply and trading companies of financial institutions (banks, hedge and investment funds) active in EMEA and Asia regions, where I can add value to manage current transactions and enhance business further. 

Highly experienced Oil & Gas Trading & Business Development professional with a proven track record and in-depth knowledge of all aspects of Crude Oil & Oil Products trading and relevant areas along the supply value chain acquired whilst working for major internationally established oil supply & trading companies including Unipec (Sinopec), Chevron (Texaco) and TotalEnergies. Team leader and team player with strong organizational, analytical and negotiating skills. Entrepreneurial, initiative driven, self-motivated, confident, flexible, energetic with excellent people skills, able to handle multiple initiatives simultaneously, hard-working.

One of the oil traders described (Chapter 29) by Owain Johnson (Managing Director at Chicago Mercantile Exchange) in his book '40 Classic Oil Trades: Real-Life Examples of Innovative Trading'.

BG Energy UK Ltd, London                                                                                                                                              2017 – pres.

Senior Crude Oil & Oil Products Trading and Business Development Manager

• Setting up and developing EMEA and Asia trading desks for the company.
• Building and managing the company’s trading portfolio and P&L, including both physical and paper positions.
• Actively working with crude oil and oil products suppliers. 
• Crude oil and oil products off-take and spot trading. Developing new short & long positions. 
• Pick yearly P&L of up to USD30M.
• Managing daily physical position of crude oil and oil products from NS, Med and WAF of up to 90 kbd.
• Managing and supervising shipping and operations.
• Sourcing physical crude oil and oil products and managing hedging within NWE and Mediterranean markets.
• Sourcing and trading of Kole, Azeri Light, CPC Blend, Cheleken, Okarem, Buzachi and Kumkol crude oil grades.
• Off-take and trading of HSFO, VGO, LSGO oil product grades including bunkering operations. 
• Formulating and developing new crude oil and oil products trading strategies. 

Unipec Asia Co Ltd, London                                                                                                                                                           2004-2016

Senior Oil Trader (Crude Oil & Fuel Oil Trading Team/Book Leader) & Origination

• Developed successful NS & Med trading desks for the company which had no previous experience in trading on these markets.
• Team management and book leader responsible for supply and third-party trading of Crude and Oil products.
• About 250 kbd trading volume activity, generating over USD125M annual P&L.
• Established two new trading desks – Med and North Sea, with associated shipping & hedging procedures. 
• Portfolio PnL assessment and analysis for physical and financial commodities and reporting to stakeholders.
• Built teams including staff hire and training.
• Managed shipping and operations.
• Established Shipping function including time-charter desks.
• Strategy and planning of Asian and European refinery system supply and trading activities. 
• Crude oil supply to Sinopec refinery system in southeast China from Europe, Africa and Persian Gulf.
• Sinopec equity crude oil (Caspian region, North Sea and West Africa) marketing and shipping.
• Term supply of Qarun, Basrah, Saharan blend, Urals, CPC and Azeri Lt. 
• Marketing and trading of Basrah (lt and heavy) including sales to US.
• Cargo swaps and storage position management including STS operations.
• Additional trading activities in Americas and Asia.
• Developed new investment projects (oil storage and transportation infrastructure).
• Direct spot and term contracts for crude oil & oil products supply and tender participation.

ChevronTexaco UK Ltd, London                                                                                                                                   1998-2003

Oil Trader (key member of the global Business Development desk) with geographic focus on Europe and Americas

• Team leader and book management responsibility for crude oil and oil products trading and business development.
• Established three new trading desks (Crude Oil, Fuel Oil and Distillates).
• Upstream production (Tengiz, Buzachi & Karachaganak) shipment and marketing within Med & NWE markets.
• Arbitrage sales. The first sale of Urals & CPC Blend Suezmaxes to Asia and China (Sinopec) & Korea (SK).
• Established alternative crude oil sources to grow the trading book and optimize equity crude oil shipping. 
• Managed shipping operations from the source to the point of delivery. 
• Developed new crude oil blends at storage terminals to supply customers in the Mediterranean markets.
• Connected Caspian equity production with Northwest European system refinery by processing CPC Blend at Pembroke.
• Managed European refinery system supply and marketing equity crude oil production from the Caspian region.
• Supplied system refineries in Northwest Europe (Pembroke and Rotterdam) and US with various grades from North Sea, Mediterranean and Persian Gulf (Basrah Light).
• Participated in North Sea and West African equity production marketing and sales.
• Approximately 100 kbd supply and trading activity with up to USD50M pick annual P&L. 
• Supply and trading of upstream (crude oil, gas) production from the Caspian region.

Total Energies (TOTSA SA), Geneva                                                                                                                             1995-1998

Progressed to Supply Trader by starting as Oil Products Operator at the Trading & Operations Desk

• Operations management for both physical and paper oil products supply and trading books.
• Established physical supply flow of HSFO & LSGO to system refineries in France and Germany. 
• Operations and shipping activities within Northwest Europe and Mediterranean geographic regions.
• Off-take and shipping operations of oil products supply from the Baltic and Blac Sea oil terminals. 
• Approximately 50 kbd supply and trading activity with up to USD25M pick annual P&L. 

MSc in Economics & Finance, London School of Economics 

BSc in Chemical Engineering, Gubkin University (major in Oil & Gas processing)