Chemoil hires new head for Asian trading

Singapore’s Chemoil Energy announced that it had hired senior fuel oil trader Jacob Gay as the new head of trading for its business in Asia. Thomas Reilly, Chemoil’s chief executive officer said, “Our focus for Singapore would be to aggressively move beyond the current back-to-back ex-wharf trading model. It is for Jacob to assess if we should do cargo trading and be profitable on a sustained basis.” Gay has more than a decade’s experience with Arcadia, Projector and Shell. He replaces Teng Chee Keong. Among his major responsibilities is the optimization of the company’s Fujairah position. (September 12, 2011)