EDF Trading makes key hire in build-up of oil logistics business

EDF Trading announced today that it has hired Jay Harbison, a veteran energy industry executive to lead a team that will build an oil logistics platform which will operate alongside EDF Trading’s existing gas, power, coal and environmental products businesses. The team will work with new and existing upstream customers to assist in efficiently moving field level crude barrels to markets throughout North America.

Harbison was most recently Senior Vice President, Lease Acquisitions at TransMontaigne, a division of Morgan Stanley. A graduate of Louisiana State University, Harbison has more than 20 years of experience in energy logistics. Prior to his time at TransMontaigne, he held a variety of senior assignments at Texon, TransCanada and EOTT Energy.

“I’m very pleased that Jay has joined EDF Trading. He brings a wealth of experience to our North American business,” said John Rittenhouse, Chief Executive of EDF Trading. He explained the new business will focus on acquiring crude oil pipeline, rail, truck and storage capacity particularly in the key production areas of the Gulf Coast and the Plains States.

“We have a strong platform in place across North America and we are continuing to develop our asset base. As the fifth largest marketer of natural gas in the United States, we already have a great deal of interaction with E&P companies,” he said. ”Adding physical crude oil to our portfolio of services completes the product offering to the upstream sector and allows us to provide a full suite of physical and financial solutions to US upstream participants.”

For further information, please contact:
EDF Trading
John Anderson, PR Consultant
Tel: +44 (0) 78 99 065 352

About EDF Trading
EDF Trading is a leader in the international wholesale energy markets. It has its own portfolio of assets which give it the ability to source, supply, transport, store, blend and convert physical commodities around the world. These capabilities enable EDF Trading to deliver essential asset optimisation services, risk management and wholesale market access to the EDF Group and its third party customers, helping them to realise the value inherent in their asset portfolios.

EDF Trading is one of the largest participants in the global power, gas, coal, freight and environmental products markets. It is one of the top buyers of carbon credits from global CDM projects and has one of the most mature portfolios in the market. It is the largest importer of coal into Europe, a pioneer in the biomass market, a recognised leader in weather derivatives, one of the largest providers of market services to the wholesale gas and power sectors in North America with 23,000 MW of generation under management and the leading electricity trader in Europe.

EDF Trading is a 100% owned subsidiary of EDF, Europe’s leading electricity producer, a major player in renewable energies, a significant participant in the worldwide revival of nuclear energy with a growing presence in the natural gas industry.

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