Sr. Crude Oil Trader (Finance)

CITGO PETROLEUM CORPORATION

CITGO Petroleum Corporation is a recognized leader in the refining industry and operates under the well-known CITGO brand. CITGO owns and operates three refineries located in Lake Charles, LA.; Lemont, IL.; and Corpus Christi, TX, and wholly and/or jointly owns 38 active terminals, six pipelines and three lubricants blending and packaging plants. With approximately 3,300 employees and a combined crude capacity of approximately 807,000 barrels-per-day (bpd), positions CITGO as one of the best-branded supplier companies in the industry.

At CITGO our people are our most important resource. Our core values are Safety, Integrity, Respect, Accountability, and Care.

Job Summary

The incumbent is an integral part of CITGO's Crude Supply & Trading team. This position will either be responsible for a Foreign Int. Cargoes desk or U.S. Domestics trading desk.

This position physically purchases, sells, and trades crude oils to supply and optimize CITGO's refineries. The Position contributes to achieving highest possible refining margin optimizing refineries intermediate and high conversion units. The position coordinates all commercial activities and feedstocks commercial team in unison with the Supply Chain (refineries optimizers/coordination team), logistics team, schedulers, marine operations, refineries, and Risk Management.

This individual will cover and develop commercial strategies for CITGO's Asset Back Trading Business around assigned commodities and/or regions.

The Position support and leads negotiations on spot and term contracts and uses expert negotiating skills to resolve commercial disputes. Monitors net exposure on all positions and ensures positions are aligned with agreed trading strategies. Reviews profit/loss (P&L) performance and evaluates potential improvement in execution.

This position is responsible for understanding and recognizing the value of hydrocarbon qualities, pipeline logistics, infrastructure and blending opportunities in a wide array of business development activities to find new sources of value in the market. Analyzes market information and trends to identify price/margin optimization opportunities along the supply chain. Initiates and concludes trades, implements hedging strategies, and manages price risks within the specific systems of authorities. Maintains detailed and well-organized contractual documentation. Identifies and pursues commercial trading opportunities. Accountable for consistently meeting targeted crude oil or feedstock delivery schedules or product movement requirements, profitability, and optimization targets.

Works closely with Compliance to ensure both CITGO and counterparties abide by all current trade restrictions and operate in compliance with all applicable laws and regulations. Works with Risk Control group to ensure trading within established risk and trading authorities, policies, and procedures.

Minimum Qualifications

• Demonstrated commercial experience on physical trading and paper trading of crude oils, feedstocks and/or products.
• Demonstrated leadership, positive influence, and teamwork behaviors.
• A self-starter with excellent communication skills and the ability to multi-task in a dynamic high-pressure diverse team environment.
• Demonstrated understanding and utilization of fundamental and technical market data to propose profitable trades and trading strategies and to manage company exposure.
• Demonstrated knowledge and experience in physical marketing, supply and/or trading, including inventory management, hedging, and position taking.
• Demonstrated experience with commercial negotiations.
• Demonstrated experience in using analytical and problem-solving techniques.
• A flexible approach to working hours is vital to accommodate the significant variation in workloads associated with a busy trading operation.
• Periodic travel may be required.
• 24 hr availability - must carry cell phone.

Job Duties

At any given time, the Senior Hydrocarbon Trader should have a well-defined scope of work for a specific hydrocarbon commodity, and a network of internal and external contacts across the supply chain for the specific hydrocarbon commodity under his/her responsibility. The Senior Hydrocarbon Trader is a key member of the hydrocarbon commercial team, and as such should develop work processes to strengthen the coordination with all the other commercial team members involved. The Senior Hydrocarbon Trader should use his/her knowledge of the trading cycles, market contacts and market intelligence to position himself/herself to capturing the opportunities visualized during the optimization processes. As an example, the Senior Hydrocarbon Trader should survey and analyze crude or feedstocks or products markets for cargo availabilities and pricing, as the case may be for the specific hydrocarbon commodity under his/her responsibility. Provide projections of scheduled arrivals, timing, and prices for those hydrocarbon commodities available in the marketplace and provide input to the refinery optimization and distribution processes. Collaborate with Supply Chain personnel to ensure an optimal mix of crude types and feedstocks is economically procured for refinery processing. As an example, a Senior Hydrocarbon Trader in the Crude Oil area should be in the position to be able to purchase approximately 300 MBD of foreign medium and light sour crudes for the Corpus Christi and Lake Charles refineries, or to purchase 180 MBD of domestic and light sweet crude for the USGC refineries, or to purchase 160 MBD of light and heavy Canadian crude for the Lemont refinery; all purchased following refinery economics to the given market conditions.

The Sr. Hydrocarbon Trader should implement and develop risk management strategies when applicable within the hydrocarbon commodities under his/her responsibilities. The Sr. Trader uses derivatives, including futures and OTC instruments, to manage risk and add incremental trading revenue for the company.

Job Duties II

3. The Senior Hydrocarbon Trader should always be looking beyond the routine aspects of the job to help identify technological solutions leading to higher efficiency, meaningful data collection and data management and process improvement. The Senior Hydrocarbon Trader should be able to keep current his/her market point of view and market intelligence for the specific hydrocarbon commodity under his/her responsibility, using this knowledge to provide short term commercial analysis or medium-term planning scenarios.

4. Develops a culture of excellence that identifies and pursues entrepreneurial commercial opportunities. Engages with industry experts and maintains strong internal and external relationships. Communicates clearly on trading strategies, transactions, and positions.

4. Develops and supports new business markets and new business opportunities to increase margins and commercial profitability.

5. The Senior Hydrocarbon Trader should engage with the Credit and Treasury departments to devise innovative controls of payables and receivables according to the negotiated contracts or transactions and to participate in the development of presentations to suppliers and customers to enhance trade credit.

Job duties displayed above are not all-inclusive, site-specific responsibilities may be assigned.

Here are the incentives we offer:

• Remote Work options available for eligible positions
• Options are department and/or location specific
• 9/80 Work Schedule Option (where applicable)
• Annual Vacation Incentive (40-120 hours of additional pay) for Eligible Employees
• Paid Vacation Time
• Company-Paid Holidays
• Caregiver Leave
• Excellent 401(k) Match
• Pension Plan
• Company-Paid Sick Leave and Long-Term Disability
• Medical, Dental, & Vision Plans; FSA and HSA options
• Company-Paid Life Insurance for Active Employees
• Healthy Rewards Program
• Service Awards Program
• Educational Assistance Plan
• Dependent Children Scholarships
• Reimbursement for Gym Membership
• Employee Discount Programs
• On-site Health Clinic (select locations)
• On-site Cafeteria (select locations)
• On-site Credit Union and ATM (Corporate office only)
• On-site Fitness Center (select locations)

PLEASE NOTE ALL JOBS DO NOT QUALIFY FOR ALL PERKS

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or disability.

Requisition ID - 1377