Robert Wilson
Carlsbad, CA (USA)
Role(s):
Petrofund
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Startup
Location:
Carlsbad
Industry:
Finance
Year Founded:
2007
Number Employees:
INVALID
Description:
JV004 PetroFund LLC operates as a fixed-price, contract flow-through provider to some of the Chinese government's largest refiners of oil. The Company therefore works for the Buyer, in this case the government of China, through the government's major oil companies and agents to secure fixed-price supply contracts from first and second tier suppliers, as well as the spot market.
A typical contract will be for 200,000-300,000 metric tons of Mazut to be delivered in monthly increments of approximately 50,000 metric tons per shipment until fulfillment, with a plus or minus of 5% variable per shipment. The price per metric ton can range from $270.00 to $500.00, with a typical average being $325.00 per metric ton, which for a contract of 300,000 metric tons, for example, results in a total va