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SalaryOur Favorite CITGO Perks are:: •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 •Parental 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 •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 Relocation: Relocation Benefits are available for this position. Note: Employer will not sponsor visas for position Job Summary:
This position physically purchases, sells, and trades feedstocks to supply and optimize CITGO’s refineries.
The Position contributes to achieving highest possible refining margin optimizing refineries intermediate and high conversion units. Feedstocks products/intermediates products are VGO (FCC unit feedstock), naphtha, distillates for hydrocracker or ULSD units, long short resid, gasoline blend stocks, others.
As a Feedstocks LEAD HYDROCARBON TRADER, this individual will cover and develop commercial strategies for CITGO’s Asset Back Trading Business around intermediate products and feedstocks products (spread and global arbitrage opportunities). The individual is regarded as a feedstocks subject matter expert for as well as strong understanding of derivates markets including futures and OTC instruments.
The Position leads critical 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.
The Position takes a proactive initiative-taken role in business development, seeking out and evaluating market tenders to capture new business, and providing insights to our Analytics team to continuously improve trading applications and fundamental analysis.
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.
Acts as lead to ensure inter and intra trading day market movements are properly evaluated, refineries economics are considered on the optimization process, tactics/strategies revised and executed according to opportunities and constraints present in the CITGO system. Key provider of advice to Management on critical commercial negotiations, contractual arrangements, and positions in the medium term. Constantly discuss market perspective and test the rationale of desk traders on current positions and communicate
2. The Lead Hydrocarbon Trader should develop risk management strategies when applicable within the hydrocarbon commodities under his/her responsibilities and make specific recommendations as to how to mitigate risk. The Lead Trader uses derivatives, including futures and OTC instruments, to manage risk and add incremental trading revenue for the company.
3. The Lead Hydrocarbon Trader should serve as a Mentor, Trainer, Advisor for Sr./Jr. Traders. Act as a Foreign feedstocks commercial liaison of counterparties with CITGO. Negotiates spot & term contracts and ensures contract is performed in accordance with agreed terms. Resolve commercial disputes through negotiating skills.
4. Develops a culture of excellence that identifies and pursues entrepreneurial commercial opportunities. Engages with industry experts and maintains strong internal and external relationships. Provides visible leadership by working with other team members in the development of regional and global trading strategies. Communicates clearly on trading strategies, transactions, and positions.
5. Develops and supports new business markets for feedstocks and new business opportunities to increase margins and commercial profitability.
The incumbent is an integral part of CITGO’s Crude & Feedstocks Trading team.
This position physically purchases, sells, and trades feedstocks to supply and optimize CITGO’s refineries.
The Position contributes to achieving highest possible refining margin optimizing refineries intermediate and high conversion units. Feedstocks products/intermediates products are VGO (FCC unit feedstock), naphtha, distillates for hydrocracker or ULSD units, long short resid, gasoline blend stocks, others.
The position coordinates all feedstocks 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.
As a Feedstocks LEAD HYDROCARBON TRADER, this individual will cover and develop commercial strategies for CITGO’s Asset Back Trading Business around intermediate products and feedstocks products (spread and global arbitrage opportunities). The individual is regarded as a feedstocks subject matter expert for as well as strong understanding of derivates markets including futures and OTC instruments.
The Position leads critical 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.
The Position takes a proactive initiative-taken role in business development, seeking out and evaluating market tenders to capture new business, and providing insights to our Analytics team to continuously improve trading applications and fundamental analysis.
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.
Acts as lead to ensure inter and intra trading day market movements are properly evaluated, refineries economics are considered on the optimization process, tactics/strategies revised and executed according to opportunities and constraints present in the CITGO system. Key provider of advice to Management on critical commercial negotiations, contractual arrangements, and positions in the medium term. Constantly discuss market perspective and test the rationale of desk traders on current positions and communicate
broadly with refining and commercial on market trends. Advises on the implementation of major commercial deals across the company and technical solutions in the commercial organization. Serves as a Lead, Mentor, Trainer, Advisor, and Desk Head Back up in the commercial area.
Minimum Qualifications:Degree / The minimun number of years of job related experience required by this job is:
- Bachelor's Degree (or experience in lieu of degree) in one of the following fields is preferred: Trading, Chemical Engineering, Refining, Economics, Business.
- A Bachelor’s degree and 10 years of experience or a Master’s degree and 8 years of experience. If no degree, 14 years of experience in lieu of degree.
- 10+ years of industry experience.
List any specialized training or unique skills required:
- Demonstrated commercial experience on physical trading and paper trading of crude oils, feedstocks and/or products.
- Excellent record - in previous and current roles - of being strongly driven towards future success.
- 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 understanding of regional and/or global markets, market exposure, risk management, basis risk, blending and arbitrage economics.
- Demonstrated experience with detailet commercial negotiations.
- Demonstrated experience in using analytical and problem-solving techniques.
- Experience overseeing positions for group of traders at a desk.
- A flexible approach to working hours is vital to accommodate the significant variation in workloads associated with a busy trading operation.
- Exceptional written and verbal communication skills
- Periodic travel may be required.
- 24 hr availability - must carry cell phone.
1. At any given time, the Lead Hydrocarbon Trader should have a well-defined scope of work, and a network of internal and external contacts across the markets for the hydrocarbon commodities under his/her responsibility. The Lead Hydrocarbon Trader is a key member of the hydrocarbon supply team, and as such should develop work processes to strengthen the coordination with all the key team members involved. Independently develops unique market insights and views/positions based on market fundamentals and develops trading strategies in a fast passed environment that result in increasing refinery margin and profitability for the Feedstocks Trading book. The Lead Hydrocarbon Trader should use his/her knowledge of the trading cycles, market contacts and market intelligence to help position the trading team to capture the opportunities visualized during the optimization processes.
- Closely collaborate with Supply Chain personnel to ensure feedstocks are economically procured or sold for refinery optimization. As an example, pending on refinery economics and market conditions, the Lead Hydrocarbon Trader should be in the position to supply Corpus Christi a monthly volume of naphtha to optimize the reformers units and also sell excess cat feed (VGO) inventory out of Lake Charles to maximize P&L.
- Trades physical and financial commodities in pursuit of system optimization and trading for profit.
- Exhibits and demonstrates strong operational excellence and discipline in managing trading positions.
- Coordinates logistical arrangements with logistics and refinery groups to ensure timely and cost-effective delivery or export of commodities.
- The Lead Hydrocarbon Trader should be able to keep current his/her market point of view and market intelligence for each hydrocarbon commodity under his/her responsibility, using this knowledge to provide short term commercial analysis or medium-term planning scenarios.
2. The Lead Hydrocarbon Trader should develop risk management strategies when applicable within the hydrocarbon commodities under his/her responsibilities and make specific recommendations as to how to mitigate risk. The Lead Trader uses derivatives, including futures and OTC instruments, to manage risk and add incremental trading revenue for the company.
3. The Lead Hydrocarbon Trader should serve as a Mentor, Trainer, Advisor for Sr./Jr. Traders. Act as a Foreign feedstocks commercial liaison of counterparties with CITGO. Negotiates spot & term contracts and ensures contract is performed in accordance with agreed terms. Resolve commercial disputes through negotiating skills.
4. Develops a culture of excellence that identifies and pursues entrepreneurial commercial opportunities. Engages with industry experts and maintains strong internal and external relationships. Provides visible leadership by working with other team members in the development of regional and global trading strategies. Communicates clearly on trading strategies, transactions, and positions.
5. Develops and supports new business markets for feedstocks and new business opportunities to increase margins and commercial profitability.
