Improving the adaptability demanded by refiners seeking assured supply.
Maintaining an adequate crude supply is one of the most important requirements for a refiner. Storage contracts offered through the Matrix program allow refiners to acquire storage on an as-needed basis. Refiners face a balancing act between their onsite storage, opportunities available in the supply chain and unscheduled outages.
The storage contract gives refiners the flexibility to manage their inventories without the exposure of acquiring long-term storage. Since the transaction can be a futures or bilateral, there is an added layer of flexibility for the end user.