Here at RBN, we frequently receive questions about our thoughts on the value of storage. Whether it be crude, natural gas, or NGLs, we answer like any good consultant, “It depends.” What operational need does this storage serve? Where is it located? Does it have optionality for receipts and deliveries? These factors and many more can affect both the strategic and tactical value of a storage asset. Those assets that are integrated into midstream systems and facilitate movements from the upstream to the downstream are generally better poised for success. Those attempting to carve out a niche in isolation or relying on uplift purely from commodity price fluctuations … well, good luck to them. Today, we begin a series examining the value of — and changing markets for — crude oil storage.
Bio:
For the past 3 years I have been the CEO of Matrix Global Holdings. The developer of the first traded derivative on crude oil storage capacity. www.matrix.global - more info on website on Matrix
An expert in understanding the relationship between derivative risk products and their application to the physical market, Mr. Redoglia brings more than +35 years of financial product and new technologies development to Matrix Global.
Beginning his energy career in 1980 as an analyst in the Refining and Marketing Group at Tosco Corporation, Mr. Redoglia progressed to an energy specialist with the London-based broker-dealer Agra, Gill & Duffus. In 1985, he started his 17-year tenure as a senior vice president with Merrill Lynch, the industry leader as measured by cleared contracts on NYMEX futures and options. Merrill Lynch operations sold to ABN AMRO in July 2000 and Mr. Redoglia worked as co-managing director in charge of reorganizing London operations. This career track placed him at the inception of every major energy contract developed, going back to NYMEX WTI, IPE Brent and the abandoned LLS CBOT contract. This experience enabled him to participate in how the industry dealt with these new risk products and discuss their utilization as a means to manage risk.
For the past 11 years, Mr. Redoglia has served as a director with Global Energy Horizons to assist energy and natural resource companies with commercializing new technologies.
Mr. Redoglia holds a Bachelor of Arts in Business Economics from the University of California, Santa Barbara.
An expert in understanding the relationship between derivative risk products and their application to the physical market, Mr. Redoglia brings more than +35 years of financial product and new technologies development to Matrix Global.
Beginning his energy career in 1980 as an analyst in the Refining and Marketing Group at Tosco Corporation, Mr. Redoglia progressed to an energy specialist with the London-based broker-dealer Agra, Gill & Duffus. In 1985, he started his 17-year tenure as a senior vice president with Merrill Lynch, the industry leader as measured by cleared contracts on NYMEX futures and options. Merrill Lynch operations sold to ABN AMRO in July 2000 and Mr. Redoglia worked as co-managing director in charge of reorganizing London operations. This career track placed him at the inception of every major energy contract developed, going back to NYMEX WTI, IPE Brent and the abandoned LLS CBOT contract. This experience enabled him to participate in how the industry dealt with these new risk products and discuss their utilization as a means to manage risk.
For the past 11 years, Mr. Redoglia has served as a director with Global Energy Horizons to assist energy and natural resource companies with commercializing new technologies.
Mr. Redoglia holds a Bachelor of Arts in Business Economics from the University of California, Santa Barbara.
Position:
Energy Consultant
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