Our goal is to provide effective and transparent client-focused solutions that allow for the purchase, sale, and movement of crude oil in North America and position varying grades of crude oil to supply our clients around the world.
The history of our US energy trading business dates to the early 1980s when we began trading petroleum products such as fuel, oil, and clean products as Westport Petroleum. Mitsui & Co. made additional capital investments across commodity lines by investing in the marketing and trading platform for crude oil. In 2019, Westport Petroleum consolidated into Mitsui & Co. Energy Marketing and Services (USA), Inc. (MEMS).
MEMS has been an active exporter of a variety of grades out of multiple terminals for delivery worldwide since 2016. We have purchased and transported heavy grades from Canada, light sweet common streams such as WTI, WTL, Bakken and lighter grades such as Condensate from Utica and Eagle Ford basins.
Our team constantly assesses the many relevant factors affecting how we procure, transport, store and deliver oil for our clients in North America or for ships with destinations around the world.
Our oil team communicates with our producer clients to understand supply balances and locational issues such as pipe constraints, while working on solutions to ensure their oil gets to markets. In addition to the domestic balances, we work closely with our regional desks out of London, Tokyo, and Singapore to collectively evaluate market influences and fundamentals.
MEMS continues to explore strategic transactions and establish relationships and long-term business opportunities across multiple commodity lines and has positioned itself with a strong balance sheet as a unique global trading entity with robust business development, trading, and marketing capabilities.