What we do

International Integrated Supply & Optimisation

In a fragmented market where no single company has a dominant position, the Prax Group has a global presence, is actively involved in all of the major markets, and is one of the largest suppliers of petroleum products in the UK.

Our marketing and supply teams closely track the price differentials between different grades of commodities, with the aim to identify arbitrage opportunities that makes it profitable to move shipments around the world and blend them when economically advantageous.

We acquire components with a view to blending them to cater to specific market demands. Components for the integrated supply and optimisation business are sourced from varied and disparate counterparties. Our physical integrated supply and optimisation business is underpinned by expertise in sourcing crude and petroleum products from different geographies and maintaining inventory stocks in tanks strategically situated around the globe. Our activities complement our downstream business division.

Trading ship docked
Financial trading

Financial Integrated Supply & Risk Management

Our highly experienced risk management team continues to use derivatives to minimise our exposure to market movements and also offers this service to customers. The provision of this service has helped us to develop closer relationships with counterparties whilst simultaneously increasing revenues.

Terminals

As part of a strategy that complements our integrated supply and optimisation business, we have acquired strategic storage assets, and we own and successfully operate oil terminals. We have made substantial investments in these assets and their systems to enhance productivity. The acquisition of further strategic storage assets is a key element of our strategy, which will provide us with the power to maximise market movements and exploit arbitrage opportunities, and will provide synergies between our downstream and integrated supply and optimisation divisions.

Prax Tanker

Prax Lindsey Oil Refinery

Prax Lindsey Oil Refinery, located in North Lincolnshire in the United Kingdom, is a world-class supplier of quality fuels. Constructed in 1968, it has the capacity to process up to 5.4 million tonnes of crude oil per year (109,000 barrels a day).

The refinery extends over 500 acres and incorporates some of the most advanced refining and conversion processes in Europe.

Discover More About Prax Lindsey Oil Refinery

Downstream Divisions

The Group has invested in downstream businesses – Aviation, Marine, Commercial and Retail and these divisions operate under the Harvest Energy brand. For more information on our downstream marketing and distribution businesses, which operate under the Harvest Energy brand, please click here.

Harvest Energy logo

Axis Logistics

Axis Logistics manages the road tanker logistics operations of the Prax Group of companies, offering our customers safe and reliable deliveries that are competitively priced.  For more information, please click here