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From: Alvaro De La Garza Musi [mailto:alvaro.garza@trafigura.com]
Sent: October 16, 2017 8:59 AM
To: Paul Hughes BSR <paulhughes@bsrglobal.com<mailto:paulhughes@bsrglobal.com>>
Cc: Katia Eschenbach <katia.eschenbach@trafigura.com<mailto:katia.eschenbach@trafigura.com>>
Subject: Re: [EXTERNAL] RE: Thornhill Energy FCO's for Shell ULSD FOB Houston


Hi Paul I'm travelling until next Friday<x-apple-data-detectors://25> but what we require is audited financials for the last two years please.


Price we would be interested is 62gr pipe flat - full RVO.


Thanks.

Sent from my iPhone


On Oct 13, 2017, at 3:21 PM, Paul Hughes BSR <paulhughes@bsrglobal.com<mailto:paulhughes@bsrglobal.com>> wrote:

Alvaro,

Again, we would like to move forward with Trafigura; however, we need your parameters in terms of due diligence and pricing to determine if it is viable opportunity for both parties.


Regards,


Paul Hughes

Commercial Director
North American Operations
paulhughes@bsrglobal.com<http://bsrglobal.com/>

+1-604-813-4102<tel:+1-604-813-4102>

BSR Global Group Limited
www.bsrglobal.com<http://www.bsrglobal.com/>

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From: Paul Hughes BSR [mailto:paulhughes@bsrglobal.com]
Sent: October 11, 2017 8:10 AM
To: 'Alvaro De La Garza Musi' <alvaro.garza@trafigura.com<mailto:alvaro.garza@trafigura.com>>; 'Katia Eschenbach' <katia.eschenbach@trafigura.com<mailto:katia.eschenbach@trafigura.com>>
Subject: RE: [EXTERNAL] RE: Thornhill Energy FCO's for Shell ULSD FOB Houston


Alvaro,

Thank you for your email, I will respond to your issues in turn:

1. As to your comment that Thornhill Energy never provided financial statements, we have never received a request for financials. The only request for information we have had, was to complete your KYC form—which we provided many weeks ago. If there is a documentation list your compliance department requires—please provide it.
2. As to pricing, until Thornhill Energy has their own refineries on line, they are reselling Shell product—at a small spread to cover their cost. We were told you needed Platts or better for the trade to work, so we dropped our price to Platts—for both the 10 and 15 ppm sulphur products. If you could provide us with exactly what you need, perhaps we can accommodate.

Thank you


Paul Hughes

Commercial Director
North American Operations
paulhughes@bsrglobal.com<http://bsrglobal.com/>

+1-604-813-4102<tel:+1-604-813-4102>

BSR Global Group Limited
www.bsrglobal.com<http://www.bsrglobal.com/>

********************************************************************************
E-mails may be monitored for security purposes. This communication contains information which

is confidential and is for the exclusive use of the addressee(s). If you are not the named addressee

please contact the sender immediately and also delete this communication from your system.


Any views or opinions presented are solely those of the author and do not necessarily represent

those of BSR Global Group Limited or any subsidiary, unless otherwise specifically stated.

********************************************************************************