Blacksands Pacific

Blacksands Pacific
Private
Industry Oil and Gas
Headquarters Los Angeles and Houston, United States
Area served
 North America, Asia Pacific, Africa
Key people
 Raheem J. Brennerman, Chairman and CEO
Number of employees
 51-200
Website www.blacksandspacific.com

The Blacksands Pacific Group is an international oil and gas exploration and production and trading company headquartered in Los Angeles and Houston, with assets in North America, Asia and Africa.[1] The company also transports, stores, purchases and markets crude oil and natural gas.[2][3] The Chairman and CEO of Blacksands Pacific is Raheem J. Brennerman.

History

Blacksands Pacific was founded in 2010 by Raheem J. Brennerman, an experienced investor with interests in energy and real estate.[4][5] Originally an energy trading company marketing crude oil and petroleum products, the company expanded to focus on exploration and production. Blacksands Pacific now also transports, stores, purchases and markets crude oil, natural gas, natural gas liquids and bitumen.[6]

In September 2011, Blacksands Pacific entered into a commercial partnership with Sigmund Oilfields Limited, a Nigerian indigenous oil & gas exploration and production company, to explore, develop and produce oil from offshore the Niger Delta, but later withdrew.[7][8]

In October 2011, the company formed a joint venture with Oil and Gas Technology Fund Inc to develop the Torrance Field acreage located in the Los Angeles Basin, California and explore and develop other prospects in Nevada.[9]

In February 2012, Blacksands Pacific invested in a joint venture to develop the oil prospects within the Williston Basin Prospect, in North Dakota.[10]

Current Operations

Currently operating in nine countries, Blacksands Pacific has announced that it is investing significantly in E&P and midstream oil and gas projects in Nigeria and Côte d'Ivoire, and has entered into joint ventures in mining and infrastructure projects, including a project to regasify and distribute liquified natural gas (LNG) in Africa.[11][12][13] During an interview with LEADERS magazine in October 2014, Mr. Brennerman revealed that Blacksands Pacific had experienced significant growth, especially in exploration and production, but that it was divesting its smaller interest assets in order to focus on larger assets that the company was acquiring, such as assets in the Gulf of Mexico that are expanding to produce over 100,000 barrels by 2019.[14]

Other

Blacksands Pacific and its Chairman and CEO, Raheem Brennerman, are currently engaged in lawsuits with The Guardian, The Sunday Times and the International Consortium of Investigative Journalists regarding articles published in 2012 and 2013 accusing Brennerman of benefitting from significant loans made by the Royal Bank of Scotland to an offshore company investing in London real estate.[15][16][17]

While Chairman and CEO of Blacksands Pacific, Brennerman has been a vocal advocate on a number of issues related to the oil and gas industry. He has defended the US oil and gas industries' investments in Africa, claiming that US expertise and technology is helping to build long-term capacity in Africa to the benefit of local businesses and communities.[18][19] Brennerman has pressed the US Government to spend more on shale oil and gas infrastructure in order to create more jobs and ultimately raise tax revenues, lower manufacturing costs and generate less reliance on energy imports.[20] He has called on the US Government to lift the export ban on crude oil to help stimulate investment, create jobs and stabilize global energy markets.[21] Brennerman has written in the media about the importance of the Gulf of Mexico as a continuing source of hydrocarbons[22] and the need for oil and gas producers in the GCC countries to increase their investment in shale oil and gas exploration and technology.[23]

References

  1. ↑ "The Blacksands Pacific Group, Inc - Acquisition of Interest in Oil Block OPL 2012 in Nigeria". Reuters. 12 September 2011.
  2. ↑ "Our Businesses". Blacksands Pacific website. Retrieved 12 July 2014.
  3. ↑ "Shanghai takes its first step on long road to becoming oil price benchmark". South China Morning Post. 9 June 2014.
  4. ↑ "Company Overview of The Blacksands Pacific Group, Inc.". Bloomberg Businessweek. Retrieved 13 July 2014.
  5. ↑ "Raheem Brennerman Inducted into Worldwide Who's Who for Excellence in Oil and Gas Operations". Worldwide Who’s Who. Retrieved 13 July 2014.
  6. ↑ "Building Multi-Generation Businesses". LEADERS magazine. Retrieved 26 January 2015.
  7. ↑ "Blacksands Pacific farms into highly prospective oil block offshore Nigeria". PennEnergy. 13 September 2011.
  8. ↑ "Blacksands Pacific withdraws from OPL 2012". Energy Mix Report. Retrieved 13 July 2014.
  9. ↑ "The Blacksands Pacific Group, Inc - Acquisition and Joint Venture Partnership in California". BusinessWire. 21 October 2011.
  10. ↑ "Evaluate Energy - Energy M&A Update" (PDF). Oil & Gas Financial Journal. 10 February 2012.
  11. ↑ "Our Businesses". Blacksands Pacific. Retrieved 12 July 2014.
  12. ↑ "Shanghai takes its first step on long road to becoming oil price benchmark". South China Morning Post. 9 June 2014.
  13. ↑ "Bucking the Trend". Inside Oil & Gas, pages 8 - 9. Retrieved 6 October 2014.
  14. ↑ "Building Multi-Generation Businesses". LEADERS magazine. Retrieved 26 January 2015.
  15. ↑ "How secret offshore firms feed London's property boom". The Guardian. 26 November 2012.
  16. ↑ "Red Cross and Greenpeace sucked into tax black hole". The Sunday Times. 28 April 2013.
  17. ↑ "Who's Buying Britain? Probe Reveals Real Estate Speculators Hidden By Offshore Alchemy". The International Consortium of Investigative Journalists. 26 November 2012.
  18. ↑ "It is not too late to invest in Africa" (PDF). Financial Times. 13 August 2014.
  19. ↑ "Investing in Africa's future is good for ours". The Hill. 13 October 2014.
  20. ↑ "If the US Doesn't Invest Much More in Shale Oil and Gas, it Risks Squandering its Global Advantage". Oil and Gas Investor. 4 September 2014.
  21. ↑ "It's past time to lift the ban on crude". The Hill. 23 September 2014.
  22. ↑ "4.9 Billion Reasons Why The GoM Will Be Central To Our Energy Future". Oil and Gas Investor. 7 November 2014.
  23. ↑ "What next for Middle East shale oil & gas?". Pipeline Oil and Gas Magazine. 9 November 2014.

External links

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