Corporate Profile
The company, its service lines, products, operating model and standards in sixteen A4 pages. Read it here, print it, or download the PDF.
Cover01
Corporate Profile
Erie, Pennsylvania
42.13° N, 80.09° W
Contents02
What the company does, and the standards it holds itself to.
01 The company03
We want the physical oil and gas trade to work the way its contracts say it should.
Product that matches its certificate. Documents that match the contract. Counterparties who are who they say they are. The market is crowded with offers nobody can evidence; we built the firm around the opposite habit. We verify first, put the delivery plan in writing and stay on a transaction until it is settled.
Storage terminal
01 The company04
Company at a glance
An independent oil and gas procurement and trading firm. Every figure on this page is taken from the company's published service terms.
01 The company05
Energy supply chain management, in the practical sense.
Procurement, brokerage, logistics and payment handled as one chain. A physical energy trade fails in the gaps: between the offer and the proof of product, between the contract and the vessel, between the documents and the bank.
Billman is focused by design. Every transaction has one accountable lead, and a process a bank's compliance officer can read and follow.
Procure crude oil, natural gas, refined products and LNG for commercial buyers; introduce verified buyers and sellers; coordinate payment structures and documents with the parties' banks.
Registered office in Erie, Pennsylvania, United States. Cargoes move internationally under Incoterms 2020 by sea, pipeline, rail and road.
02 Business activities06
Three service lines, one chain.
Each line covers one of the gaps where physical trades fail. One person at Billman stays responsible for the whole transaction.
Procurement of crude oil, natural gas, refined products and LNG from verified suppliers, with the market analysis, risk controls and transport planning each purchase needs.
Payment structures, documentation and financial due diligence coordinated between buyer, seller and their banks, for single cargoes and long-term supply agreements.
Introductions between qualified buyers and verified sellers, managed from first inquiry to settlement under written confidentiality and fee agreements.
03 Products and capabilities07
Contracted to recognised specifications.
So quality can be tested by any independent laboratory.
| Product | Reference specification | Usual unit |
|---|---|---|
| Crude oil | Assay by grade: API gravity, sulphur and acidity | Barrels |
| Natural gas | Quality specification of the delivering pipeline | MMBtu |
| Diesel, ultra-low sulphur | EN 590 or ASTM D975 | Tonnes or barrels |
| Gasoline | EN 228 or ASTM D4814 | Tonnes or barrels |
| Jet fuel, Jet A-1 | ASTM D1655 or DEF STAN 91-091 | Tonnes or barrels |
| LNG | Composition and heating value set in the contract | MMBtu |
| LPG, propane and butane | ASTM D1835 | Metric tonnes |
Spot cargoes and term supply with fixed monthly liftings, where the supplier's program allows. Availability depends on supplier programs at the time of inquiry.
03 Products and capabilities08
Nine capabilities across the transaction.
From the first requirement to final settlement, each is delivered under one accountable lead.
Supplier search limited to producers, refiners and title holders who pass verification; grade and specification matching.
TradingBenchmark, differential, freight and timing risk for each inquiry; landed-cost comparison across delivery terms.
TradingCounterparty, price, cargo and schedule risk allocated in the contract before money moves.
TradingCarriers, terminals and inspectors coordinated on one schedule; vessels screened before nomination.
TradingInventory reporting, tank scheduling and contract renewals for clients holding physical positions, under written mandate.
TradingLetters of credit, standby credit, cash against documents and escrow, agreed before contract.
FinancePreparing storage, terminal and infrastructure sponsors for lenders, and introducing financiers.
FinanceDocument sets checked against the payment instrument before they reach the bank.
FinanceVerified buyers matched to verified sellers; intermediaries protected in signed agreements.
Brokerage04 Operating model09
Product moves one way. Payment moves the other.
Freight, storage and inspection decide whether a cargo arrives on time and on specification. The delivery plan is fixed at offer stage: loading point, delivery term, loading window, inspector and the documents each bank will ask for.
NoteBillman does not own or operate terminals, vessels or pipelines. It selects carriers and terminals that run theirs safely and coordinates them on one schedule. Delivery terms: FOB, CFR, CIF and DAP under Incoterms 2020.
04 Operating model10
Five stages, each with its documents agreed in advance.
Every step between the offer and settlement is written down before either product or payment moves.
The buyer states product, specification, volume, delivery term and destination.
DocumentsLetter of intent or ICPO
Both sides complete know-your-customer checks. Intermediaries are protected in writing.
DocumentsKYC documents, NCNDA and fee agreement
The seller issues a firm offer. The contract fixes price basis, schedule, inspection and payment.
DocumentsFull corporate offer, sale and purchase agreement
An independent inspector certifies the cargo at the load port or tank.
DocumentsCertificates of quality and quantity, bill of lading
The buyer takes delivery and payment is released against documents.
DocumentsPayment instrument, commercial invoice
FeesBillman's fee is agreed in writing before any introduction is made, and is paid at settlement under the fee agreement.
05 Finance11
Billman is not a bank and does not lend. We structure and coordinate; regulated banks and financiers provide the funds.
The same approach applies to a single spot cargo and to a long-term supply agreement.
A payment structure agreed before the contract is signed.
International commodity trades carry large commitments, cross-border rules, currency movements and commercial risk. We work with both parties and their banks.
Payable against shipping documents; worded to match the contract so documents comply first time.
A bank's undertaking to pay if the buyer does not, alongside open-account or cash-against-documents terms.
Bank transfer when the agreed documents are released, usually with inspection at loading.
Funds held by a regulated third-party agent and released when contract conditions are met.
06 Risk, compliance and safety12
Four sources of loss, each dealt with in the contract.
Most losses in physical trading come from the counterparty, the price, the cargo and the schedule. Each is allocated before money moves.
Registration, ownership, sanctions exposure and trade references checked for both sides. Product and title evidenced before payment.
Benchmark and pricing dates fixed in the contract. Where a client hedges, physical pricing is aligned with the hedge it places through its own broker.
Marine cargo insurance placed to match the delivery term. Quantity and quality certified by an independent inspector at loading.
Where volumes allow, a second supplier or loading point is named. Demurrage and force majeure are allocated in the contract.
06 Risk, compliance and safety13
Standards a counterparty can read in advance.
A counterparty should be able to read our standards before sending us a document. These are the ones we work to.
Billman Midstream Trading is not a bank, a lender or an investment adviser. Market analysis supports specific physical purchases; it is not investment advice.
Every buyer, seller and intermediary provides company registration, ownership and director details and banking references before commercial terms are exchanged.
Counterparties, vessels and cargo origins are screened against United States, United Nations, European Union and United Kingdom sanctions lists. No product of sanctioned origin is handled.
Billman complies with the U.S. Foreign Corrupt Practices Act and does not make or accept facilitation payments.
Billman selects carriers and terminals that operate safely, moves every cargo with its safety data sheet and correct hazard classification, and stops using a contractor whose record does not hold up.
Offers, counterparties and documents are shared only with the parties to a transaction.
07 Principles and leadership14
How every transaction is run.
The principals see every step, every document and every fee. Nothing in a transaction is hidden from them.
Each transaction is built around the client's requirement, not around an offer we happen to hold.
Physical oil and gas only. Attention goes to specifications, shipping terms and payment instruments, where trades succeed or fail.
Both sides are checked before terms are exchanged. Slower at the start, faster at every step after.
07 Principles and leadership15
Paul Billman
Chief Executive Officer
Paul Billman leads the company's strategy and operations across oil and gas procurement, commodity trading and midstream services.
Company registration, ownership, sanctions exposure and trade references checked for both sides before terms are exchanged.
Product, title and storage evidenced through the terminal or an independent inspector before a buyer commits funds.
Every offer states the loading point, delivery term, schedule and inspection method.
A named person runs each transaction from inquiry to settlement and answers for it.
Contact16
Tell us what you need to buy, sell or move.
Corporate Profile. Information reflects the company's published services; the latest version is at billmanmt.com/company-profile. Photographs show the industry and do not depict facilities owned or operated by Billman. Billman Midstream Trading is not a bank, a lender or an investment adviser. © Billman Midstream Trading LLC.
