Crude Oil


2013 crude oil global demand forecast(Source: International Energy Agency)

What we do
LET is a significant participant in global crude oil markets and crude oil is the largest part of LET’s total energy portfolio. In 2012 we sold 117m tonnes of crude oil, which amounts to around 2.4m barrels per day.
Where we do it
LET trades crude oil globally. We have a presence and on the ground expertise wherever crude is produced, traded, stored and supplied to customers. This means that we operate in Africa, the Middle East and the Far East, as well as in Russia, the Caspian, and North and South America.We have local offices in countries around the world covering everywhere from Buenos Aires to Beijing and Luanda to Latvia. Having a presence on the ground is key to our approach to getting first hand information as it happens and sharing that information, quickly and efficiently.
How we do it

We believe that we offer a competitive advantage because we have the flexibility, speed and logistics expertise that our customers need and expect. More than 46 years experience of turning market intelligence into market advantage as well as our extensive links with all the major crude producers and refiners means that we are able to work with existing and new crude streams in any part of the world. This will help the producer to understand the real value of the crude oil.We also help our customers manage their physical requirements, all within an overall commitment to the development of long term relationships that benefit all parties. Our long established ventures with the state oil companies of Nigeria and Oman are clear demonstrations of our commitment to long term relationships.Overall, we lift crude oil from all the key producers and sell to every refining company in the world, wherever they are located.