Excess
Oil & Gas was formed in the late
1990’s as part of the Wallace
Oil Group (who has been registered with
the Times oil companies for over 15
years) to take advantage of weaknesses
in the marketing of oil products from
minor producers outside the mainstream
oil producers of OPEC. The founding
directors of the company comprise of
managers with some twenty-five years
oil producing experience together with
the added advantage of having senior
members of the Arabian Kingdoms as friends
and advisors. Picture here are the founders
of Excess Oil & Gas, HRH Mustafa
El Kastaui and Mr. James Wallace. This
experience has been invaluable in developing
strong working relationships within
the Gulf States and Arabia. Our Arab
partners are some of the most experienced
and reliable companies in the world.
They have managed their own oil infrastructures
and gained access to oil via partners
in other countries. |
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Through
provision of engineering solutions throughout
the Gulf Sates and the Kingdom of Saudi
Arabia the Excess Oil & Gas Group
has developed many years of experience
working with its Arab Partners. As a
direct result of this friendship and
cooperation the preferred method of
remuneration has been via crude oil
and refined oil products. This in turn
enables the group to market the oil
products to a select international client
base including oil traders and end users.
Excess Oil & Gas prefers to work
on long-term delivery contracts, our
unique method of developing a contract
price outside the current market price
provides a definite discount structure
through the life of a particular contract.
This unique method is of advantage to
both our oil suppliers and the customers
as each company is able to see a guaranteed
pricing structure that maintains profits
to all parties irrespective of the changes
in the international daily spot pricing.
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Excess
Oil & Gas is working with the Russian
Government and a number of the state
owned oil companies and as a result
of this cooperation the company as teamed
up with the Russian Government Investment
fund. Excess oil & Gas is supplying
the Russian Government and Russian companies
with its expertise and equipment and
in return the Company is paid with oil
products. This is the preferred method
of payment for the company and is the
method that Excess Oil & Gas conducts
the majority of its business ventures.
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Excess
Oil & Gas has also entered into
a number of joint ventures with government
and government owned companies to explore
and recover oil deposits. Agreements
have been reached to develop a number
of key locations with large proven oil
deposits. |
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Through
these agreements over the next few years
the Excess Oil & Gas group will
own substantial volumes of Oil. Excess
Oil & Gas has recently purchased
its own refinery with a capacity of
110,000 bbl/d. The refinery is capable
of refining the fuels required to modern
standards by using up to date crackers
and catalysts. This refinery is totally
equipped to meet the new EU Standards.
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