Fraser Hortop

About Fraser Hortop

I\'m a Managing Counsel at Phillips 66 (NYSE: PSX), leading the legal team for the company\'s US and Canadian trade floors — two of Phillips 66\'s five global trading offices — supporting 60+ physical and derivatives traders, 20+ originators and charterers, and a multi-billion dollar trading portfolio. Alongside the trading business, my team also supports Phillips 66\'s marketing, lubricants, aviation, chemicals and renewable fuels businesses across the US, Canada and Latin America.Across my career at Phillips 66, I have supported four of the company\'s five global trading offices — Houston, Calgary, Singapore and Beijing — giving me a broad perspective on international commodity trading across the Americas, Asia-Pacific and the Middle East.I lead legal strategy for the trading business, advising senior trading leadership on cross-border regulatory, sanctions and commercial risks associated with international commodity trading and new market entry. My practice centres on the trading, storage and transportation of petroleum products — including crude oil, distillates, NGLs, heavy fuels, LPG and renewable fuels — with particular specialisation in structuring long-term offtake and supply agreements. I have expertise in storage and terminal agreements, transportation contracts (pipeline, marine, truck and rail), trade finance including prepayment structures, and marine matters including charterparties, bills of lading and demurrage.I have advised on significant commercial disputes and regulatory investigations, and have supported the launch of new trading platforms, including the renewables trading platform in Asia and the US gas and power trading desks.Prior to going in-house, I was a Senior Associate at Hill Dickinson LLP specialising in international arbitration, shipping litigation, and commodities disputes — acting for shipowners, charterers, P&I Clubs, and oil majors.Admitted as a Solicitor of England & Wales (2012).Core areas: physical commodity trading · crude oil · petroleum products · NGLs · heavy fuels · offtake agreements · supply agreements · international trade · trade finance · prepayment finance · sanctions · regulatory risk · English law · storage agreements · pipeline · truck and rail · marine · shipping & chartering · demurrage · commercial disputes · team leadership · Americas · Asia-Pacific · Middle East

Experience

1. Managing Counsel (Commercial & Marketing)

   Phillips 66

   Oct 2022 — Present · Houston, TX, US

   Lead a team of six commercial lawyers supporting Phillips 66\'s US and Canadian trade floors — two of the company\'s five global trading offices — plus the company\'s marketing, lubricants, aviation, chemicals and renewable fuels businesses.Lead legal strategy for the trading business, advising senior trading leadership on cross-border regulatory, sanctions and commercial risks associated with international commodity trading and new market entry strategies.Advise on structuring long-term offtake and supply agreements, storage and terminal agreements, transportation contracts (pipeline, truck and rail), trade finance including prepayment structures, and marine matters including charterparties, bills of lading and demurrage.Advised on the launch of the company\'s US gas and power trading desks, and have advised on significant commercial disputes and regulatory investigations.

Education

• University of Nottingham

  LLB Hons, Law with South East Asian Law

  2005 — 2009

• The University of Law

  Postgraduate Diploma in Legal Practice (LPC)

  2009 — 2010

• National University of Singapore

  South East Asian Law (Full Year Exchange Programme)

  2007 — 2008

Skills

• Dispute
• Energy Disputes
• Commercial Litigation
• Legal Advice
• Litigation
• Oil & Gas
• International Trade Law
• Solicitor of the Senior Courts of England & Wales
• Dispute Resolution
• Offshore