Blacksands Pacific

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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

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External links

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