Calgary / Houston, 10 February 2011
Macquarie Group (Macquarie) (ASX: MQG; ADR: MQBKY) today announced the expansion of its physical energy and trading platform with the establishment of a Canadian crude oil marketing business. The new business will provide a broad range of commercial services to North American producers and refiners. The business will be based in Calgary and will form a part of Macquarie Group's Energy Markets Division.
"We are excited to announce the continued expansion of our marketing and trading platform in the North American energy markets," said Nicholas O'Kane, Senior Managing Director and Global Head of Macquarie Group's Energy Markets Division. "The addition of a Calgary-based crude oil marketing business will enable us to further expand our business reach and service producers and refiners in the key markets of Western Canada, North Dakota and Montana.
The business will be led by Bob Viccars who joins Macquarie as a Managing Director and Head of Canadian Crude Oil Marketing. Mr. Viccars has over 25 years of experience in the oil and gas industry. He most recently served as President of Trafigura Canada where he was responsible for the build out of crude oil corporate strategy for North America and crude oil and refined product marketing in Canada, Montana and North Dakota. Prior to that, he held a number of roles including serving as joint founder of Matrix Crude Oil Marketing, which was later sold to Trafigura Canada in 2005.
"We are delighted to have Bob join our team and lead this new business for us," added Mr. O'Kane. "Bob's solid track record in the Canadian oil markets makes him the ideal candidate to help lead our efforts in the region. We look forward to growing this business into a meaningful part of our existing platform."
Macquarie has long been active in the physical energy markets since establishing an energy trading business in 2003, and today has a global physical trading platform across key commodities including natural gas, power, LNG, coal, NGLs and oil. Macquarie officially commenced physical oil trading and marketing out of Singapore in early 2010, and established its US physical oil business in the fall of 2010. In January 2011, Macquarie further expanded its oil platform into Latin America with the addition of a Latin America origination team based out of Houston.
Following today's announcement, Macquarie now has global physical oil products teams in London, Houston, Singapore, Sydney and Calgary. The business is active in the marketing and trading of crude oil and products.