Energy Trading and Risk Management
  • Risk Identification, Assessment, and Mitigation
  • Risk Management and Trading Strategies Implementation
  • International Market Modeling
  • Market Assessments
  • Market-based Strategies
  • For a pre-eminent energy merchant, he originated, structured, negotiated, and closed multi-year financial derivative and commodity (natural gas, oil, and power) transactions totaling over $300 MM in revenue and resulting in over $15 MM in pre-tax income.
  • For the 10th largest U.S refinery (over 260 M Bbls per day crude runs), he exercised all commercial responsibility for $2 Billion /year sales ($6 to $7 Bln at current product prices) of gasoline, diesel, and jet fuel production as well as over 11 MM Bbl/year residual fuel oil sales and 1.2 MM tons/year sales of petroleum coke. Responsibilities included heavy emphasis on planning all critical aspects of risk management, including management of basis spreads and refinery cash margins. Steve also managed all product exchanges, directed all product scheduling and inventory management, and found alternative higher valued markets for refinery products.
  • As part of a team of 20 Bearing Point professionals, participated as an SME and lead consultant to analyze, determine, and re-design Business Processes and Key Performance Indicators (KPI's) at a $7 Billion/year sales global fuel oil marketing and trading affiliate of a 'super major' oil company with the goal of improving profitability increasing the Return on Capital Employed (ROCE) to 15 percent.
  • Engaged as an SME to work on the business and operational assessment of receiving, marketing, and delivering Ultra-Low Sulfur Diesel (ULSD) in a new upcoming EPA-proscribed regulatory environment for the Commodity Trading Group of a $70 Billion market cap financial firm that reportedly moves over $20 Billion/yr (200 Million Bbls/yr) of physical refined products in the US. Directed the effort of the Bearing Point team to develop Process Flow documents and Reports, as well as validate and refine current processes of client and outside third parties, vendors, and counterparties. Developed financial impact analyses and report regarding the advent of the new regulations as well as building the scenario assessments.
  • Engaged as a financial structuring and risk management consultant regarding federal court litigation concerning over $2 Billion pre-paid commodity (natural gas and oil) transactions.
  • For a $ 5 Billion petrochemical company, he managed and optimized residual fuel requirements for industrial facility that consumed over 150,000 MM Btu/day. At the same company, he increased sales of refinery and petrochemical byproducts from $50 MM/year to $150 MM/year after analysis of market and manufacturing capabilities. He was also promoted six times within nine years and received two President's Club Awards for outstanding commercial performance
  • Engaged Worked within client's existing oil trading operation to procure and sell Residual Fuel Oil and Vacuum Gas Oil. Structured and executed risk management strategies using NYMEX contracts and OTC derivatives, including options.
  • Engaged by several large Asian clients that include utilities and investment banks regarding hedging strategies for oil, refined products, natural gas, power, and weather by U. S. oil producers, refiners, investment banks, energy-intensive industrials, air carriers, IPPs, power and gas utilities, and retail energy marketers.
  • For a large Asian electric utility with 55,000 MWhr total generating capacity, Steve trained managers and professionals with regard to de-regulation, risk management, and commercial trading. Training modules include topics of Gas Supply, Power Marketing, Mark-to-Market Accounting, Power Transmission, Risk Management, and Power Asset Valuation.