Our Business Model

We are an independent refiner and wholesaler of petroleum products.

Our supply and distribution group, centrally based in Zug, Switzerland, is responsible for all physical supply and commercial optimization activities for our refineries. The group’s primary goal is to optimize both the supply of crude oil and feedstocks for each refinery and the off-take of each refinery’s petroleum products. We source our crude oil on a global basis through a combination of spot market purchases and short-term purchase contracts. We believe purchasing based on spot market pricing provides us flexibility in obtaining crude oil at lower prices and on a “as needed” basis. Since all of our refineries have access, either directly or through pipeline connections, to deepwater terminals, we have the flexibility to purchase crude oil originating from a number of different countries.