Jatoil establishes energy trading unit

Australia-listed firm Jatoil Limited has announced its intention to trade energy commodities this year as a core part of its business, and has strengthened its Singapore operation by appointing an experienced energy commodities trader to the boards of its Singaporean subsidiaries.

?Our stated strategy is to secure project capital through Asian markets, as well as to prepare ourselves for trading our energy products as production ramps up from our jatropha, and potentially coal, projects during 2011,? said Jatoil's chief executive officer Phil Hodgson in a statement on Friday.

Nick Croom, who will join Jatenergy Holdings Pte Ltd and Jatenergy Indonesia Pte Ltd, has worked in commodity trading and investment banking for 20 years. His experience in trading and investment banking in Sydney, London and Singapore includes positions with ANZ, BNP Paribas, Glencore, RBS Sempra and JP Morgan.

Nick Croom said: ?Jatoil?s move into coal will bring a solid, conventional energy foundation from which to pursue growth. Whilst coal boosts near term cash flow, jatropha offers Jatoil a diversified portfolio and versatility across two key energy resources. I have visited the company?s jatropha project in Indonesia and am very impressed with the business model. I think jatropha has a very bright future as a sustainable feed stock for biojet fuel and biodiesel?.

Jatoil is an energy company with a core business of developing environmentally friendly, second generation biofuel from jatropha curcas plantation ventures initially in South-East Asia. Jatoil has also announced it would expand its energy resources into coal by entering into a heads of agreement to buy mining projects in Indonesia?s Kalimantan coal region. (denny)