Goldman is going to be opening a physical commodities trading office in Houston. The office will trade crude, refined products, natural gas liquids and coal.
I was wondering what other BB's have physical trading offices in Houston. If it isn't many, will others follow in Goldman's footsteps and create offices in Houston? Also, does anyone know if they'll be a trading floor in Exxon's new campus in The Woodlands or is the whole trading operation staying put in Irving.
It'd be great to have Goldman present at the Energy Rodeo next year, let's see if monty can make it happen.
If the adding of physical trading offices is a continuing trend I think it adds to the value of energy focused university programs, as most placements are in the Houston area. Any differing opinions?
Uh I believe Goldman is following in the foot steps of other international physical commodity traders and other BB banks in this situation. Most of the physical commodity trading firms have been in Houston a long time I believe.
They bought Nexen, now physical office. Somebody is gearing up to tell the CFTC they are not a "bank dealer"....
Goldman tried to open an office in 2008 but shut it down and are the last to the party. Outside of MS everyone else has an office. CS has since closed their group but everyone else is up and running. ML and C were first to open up in early to mid 2000s followed by Bear,Leh,CS,DB,Barcap,etc etc
I honestly have no interest in having GS at Energy Rodeo.
keep in mind they are not moving their whole group but a few to Houston. They are in no way shutting down the huge head count they have in NYC.. for instance, we have an office in Calgary just like everyone else yet it has 35 people... so dont think they are moving 800 people to houston cause it will be closer to 80-150
Houston Trading (Originally Posted: 06/01/2012)
Can someone familiar with trading in Houston mind sharing some information.
-What banks have trading desks in Houston? -What major oil companies trade in Houston? -What are some other solid energy trading firms one should consider in the area? -What is the best way for someone from the Midwest to get looked at by these firms?
Thanks
I have no personal experience, but I've been doing some research in the area as well.
Check out Hetco from the Hess Corp.
search is your friend
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