We get a great sense of accomplishment and fulfillment when we successfully
gauge the rapidly changing trends of the crude oil market and make well-timed and economical procurements.
What is the role of “Crude” at SK Trading International?
While consistently providing a stable supply of crude oil to SKI-affiliated refineries,
we generate trading value by engaging in the sales and procurement of physical crude oil
and the trading of derivatives within the global marketplace.
How does the work of “Crude” look like in detail?
In the Crude Trading organization, most of our work is organically interconnected from the refinery
to the traders in the market, enabling everyone to work as one close-knit team with amazing teamwork.
Headquarters-based traders collaborate with related organizations and refineries to make decisions
about crude oil procurement, considering factors such as the type of oil needed, arrival timing,
and economic feasibility. And then, based on the regions where crude oil is primarily traded,
our overseas offices engage in the necessary crude oil trading. Geographically, our Dubai and
Singapore offices handle crude oil from nearby regions, while our London and Houston offices
are responsible for long-distance ones. Simultaneously, we generate revenue through physical
crude oil sales and procurement, and derivatives trading with global companies.
Through ceaseless collaboration between headquarters and overseas office traders, We can build
trading competitiveness in Korea before being dispatched to various overseas posts to conduct
crude oil trading directly on-site.
What are the strengths of “Crude” when it comes to trading?
SK Trading International's Crude Division ensures a steady supply of crude oil to Korea's
largest refinery with a daily processing capacity of 1.1 million barrels. At the same time,
we conduct trading in both physical crude oil and derivatives with global companies, having
some advantages of an in-depth understanding of the dynamics of the global crude oil market.
Furthermore, We can have opportunities to become global expertise through diverse trading
experiences at SK Trading International's key overseas posts, including Singapore, Houston,
London, and Dubai.
What skills do you need to specialize in the field of “Crude?”
Given the characteristics of crude oil as a trading object, the associated knowledge and information
are quite vast.
A broad perspective that encompasses international economics and geopolitical issues is imperative,
along with intellectual curiosity. Communication skills, including proficiency in foreign languages,
are also essential.
Furthermore, as access to information has become easier and the market gets more transparent compared
to the past, the trading environment has become increasingly complex and challenging. Therefore,
analytical skills for market assessment, quick adaptability to unexpected situations, and resilience
in the face of hardships are also considered necessary.
When did you have the most fun working in “Crude?”
The moment I enjoyed the most was when I met overseas clients I had only communicated via emails and phone calls before and shared market views with each other. I also felt a great sense of accomplishment and fulfillment when I successfully had read the rapidly changing trends of the crude oil market and had made timely and economical purchases. Moreover, I usually take pride as a crude oil trader when I see that numerous supermajors and trading houses show their interest in the types of crude oil we import and our operational plans, as well as acknowledge SK as a benchmark in Korea, such as using it as a key indicator for regional demand.
What has been the most challenging aspect of working in “Crude?”
Negotiating with overseas traders is not a simple task. The process of appropriately disclosing
the information I have while gathering market information, and finding common ground with them
can be complex.
Additionally, compared to other products, crude oil trades are conducted on a much larger scale
and are closely related to the process operation and the quality of petroleum products.
Even a seemingly trivial decision in the procurement of crude oil for the refinery can have
significant repercussions on the company's profit and loss, which can be quite pressure at times.
However, even in such challenging situations, I actively overcome these pressures through
multifaceted efforts to come up with logical alternatives.
A word of advice to future members of SK Trading International's “Crude” team
I believe that our work is challenging yet fascinating, requiring knowledge and expertise
in many areas, such as global political and economic conditions, and regional/time-specific
market pricing differences.
Within SK Trading International's Crude Division, many members are expanding their presence
in their respective areas and becoming indispensable experts.
Anticipating the journey ahead, I eagerly look forward to learning and growing together as members
of a global top-tier trading company.