Europe, Africa and Middle East Commercial buy and sell commodities in markets all over the world. Our commercial employees in the UK are based in London, which is the main location for traders in Europe. The commercial group support or leverage the optimisation of our assets and activities by:
- Selling own production - through trading and long-term contracts
- Providing low cost feedstock for processing/refining
- Speculatively trading
Commodities traded by commercial include crude oil and associated refined products, gas and power, emissions credits; renewable energy credits and freight.
Our trading contracts include clauses designed to ensure compliance with anti-boycott, export compliance and sanctions, anti-bribery, anti –facilitation of tax evasion, anti-money laundering and anti-terrorism laws and regulations. Our clauses also exclude recovery of consequential losses, require a waiver of sovereign immunity and, where we are the seller, exclude claims for breach of implied warranties, conditions or other terms relating to quality. Our clauses for trading contracts can be found by clicking on the link below. In the event of a conflict, our clauses prevail over all provisions of the contract.
Phillips 66 Trading Clauses.pdf