Prax Petroleum – A year of challenges and opportunities

Prax Petroleum tanker
The demanding market conditions of the past 12 months have presented Prax Petroleum with a series of challenges and opportunities. However, the Surrey-based independent oil importer and supplier of automotive and industrial fuels company is “very much on track” to meet its ambitious growth targets.
Sales director, Neil Robertson, explains: “Prax Petroleum has continued to develop its business, making significant gains in contracted and spot sales. The uncertainty surrounding our close neighbour, Coryton refinery, has undoubtedly presented all Thames-based wholesalers with further opportunities.                                 
“Changes to the Renewable Transport Fuels Obligation (RTFO) legislation have presented the market with more challenges and opportunities, and there is still a degree of uncertainty as to how this will affect future strategy. We are very proud to have been the only company in the country to have met the government objective of over 80% of fuel supplied meeting a qualified environmental standard (Year 3 RTFO Report published by the Department of Transport). We have always been mindful of our environmental responsibilities and our efforts in this regard are increasingly appreciated by our customers.”
Upgrades and improvements
Prax has completed several upgrades and improvements to its loading racks during the last 12 months, which have resulted in significantly faster loading times – warmly welcomed by the company’s ex-rack customers, says Neil. 
“As a result of customer demand, we are now exploring opportunities to expand our supply coverage and bring the benefits that our customers in the south east have enjoyed to other parts of the country.
“Our strategy remains focused on being able to offer our customers access to imported fuels with the lowest possible associated costs. By keeping overheads low, with no compromise on quality and safety processes, and listening to what our customers want, we are making very good progress towards meeting that objective. We shall, of course, keep Fuel Oils News readers duly apprised of developments!” concludes Neil.