Portland are the UK’s recognised experts on all things fuel. Set up in 2009 by James Spencer, Portland began as a specialised hedging provider; ten years on, we offer a wide range of services (for more information, refer to our group site), covering every aspect of the downstream fuel sector.
Portland CSO Trading covers the Compulsory Stock ticket market, whereby independent fuel stock-holders can be paid a reservation fee for any fuel kept in storage.
Every country in Europe is required to keep oil stocks to cover any shortages which could be caused by crises such as war or natural disasters. In the UK, the government has delegated responsibility for these stocks to the oil industry, rather than holding the stock itself.
Firms which sell large quantities of oil into the UK market are obligated to hold on to oil stocks, and many choose to pay for the rights to other firms’ stock rather than holding it themselves in storage facilities.
Portland aggregates stock from independent firms throughout Europe and sells this on to obligated parties. Any company that is holding fuel stock in tank can be paid by Portland for this stockholding.