Macquarie Group has established a Canadian crude oil marketing business based in Calgary, the company said Thursday.

The new business, which will provide services to North American producers and refiners, will be part of Macquarie Group’s energy markets division. The firm now has global physical oil products teams, which market and trade of crude oil and products, in London, Houston, Singapore, Sydney and Calgary.

“We are excited to announce the continued expansion of our marketing and trading platform in the North American energy markets,” said Nicholas O’Kane, senior managing director and global head of Macquarie Group’s energy markets division.

“The addition of a Calgary-based crude oil marketing business will enable us to further expand our business reach and service producers and refiners in the key markets of Western Canada, North Dakota and Montana.”

Macquarie has been active in the physical energy markets since establishing an energy trading business in 2003, and today has a global physical trading platform for commodities such as natural gas, power, coal, and oil. Macquarie began physical oil trading and marketing out of Singapore in early 2010, and established its US physical oil business in the fall of 2010.

IE