By May 2, 2016 Read More →

Aalpha Energy adds fuel oil brokering desk with three former BP traders

Aalpha Energy desk will open immediately

Aalpha Energy

The newly launched Aalpha Energy fuel oil brokering team will be based in Houston.

By Liz Hampton

HOUSTON, May 2 (Reuters) – Aalpha Energy, a subsidiary of brokerage holdings firm OTC Global Holdings, will launch a fuel oil brokering desk with three former BP traders, the company said on Monday.

The team, which will be based Houston, will be staffed by Adam Robinson, Nick Vasti and Jesse Feid.

“Adam, Jesse and Nick’s experience on the trading side provides an unparalleled level of knowledge and expertise for our clients,” said Joe Kelly, President and COO of OTCGH. “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.”

Aalpha’s brokerage shop currently focuses on crude oil and refined products. It is one of 18 brokerages in OTC Holding’s portfolio.

Robinson, who will lead the desk, was most recently at Swiss commodities merchant Mercuria Energy before leaving in 2014. Prior to that, he worked in BP’s fuel oil group from 2005 to 2010.

Feid traded the financial fuel oil market and feedstocks for BP, while Vasti, a 34-year veteran, worked at BP’s former Texas City refinery for eight years before joining the trade group.

The desk will open immediately, the company said.

(Reporting by Liz Hampton; Editing by Diane Craft)

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