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Introduction to LEAP (Leadership for Energy Automated Processing)
The Role of Leadership in Driving Automation & Standardization in our industry
Gary SpenglerVP Center of Excellence & Business
Services, Chevronand
LEAP Co-Chair © LEAP 2011 November 16, 2011
2© LEAP 2011
Leadership Drives Automation
LEADERS LAGGARDS
Other industries are leading the way – where do we want to be?
Leadership Drives Automation (cont)
3© LEAP 2011
Major IT Milestones in FedEx History
1978: Fred Smith, who founded FedEx in 1971, declares: "The information about a package is as important as the package itself.“
Source: ComputerWorld.com
FedEx Ground's hubs sort 3.5 million packages a day without human intervention, helping the courier win market share.
1979: FedEx launches a centralized computer system designed to track packages, routes, weather, vehicles and employees.
1980: Implements a dispatch system that allows customers to electronically request pickups.
1984: Introduces a PC-based shipping system.
1986: Introduces a handheld bar-code scanner.
What’s Holding Back Our Industry?
4© LEAP 2011
LEAP is the enabler to do this.
© LEAP 2011
LEAPLeadership for Energy Automated Processing
Benefits of automation:
Accuracy & Timeliness Managed Risk
Consistency Regulatory Credibility
Efficiency
LEAP was formed in 2006 with the mission to: Promote efficient and reliable transaction processing within the energy trading industry by means of automation and standardization.
Our founders are a group of oil majors, banks and independent traders.
Better Access to Customers, Capital and Profitability!5
© LEAP 2011
The LEAP Board of Directors
Co-Chair:
Gary Spengler
Chevron, US
Co-Chair:
James Murdoch
Shell, UK
Treasurer:
David Porter
Glencore
Secretary:
Karen Mikkelborg
Nexen
Jim Brush
Goldman Sachs
Cesar Covarrubias
PMI
Gordon Fraser
Morgan Stanley
Tom Lullo
BP
Kevin Masucci
Hess
Carolien Ruiter
Mercuria
Jone Slutas
Statoil
Mary Dortenzio
Glencore(as D. Porter designee
when required)
Joann Bonanno
Chevron, US (as G. Spengler nominee
when required)
Patty Giedris
Shell, US (as J. Murdoch nominee
when required)
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© LEAP 2011
Members of the Executive Committee
Co-Chair James
Murdoch Shell, UK
Co-Chair Gary Spengler
Chevron, US
Cesar Covarrubias
PMI
David Porter Glencore, US
John Herd Glencore, UK
David Knipe
BP, UK
Blandine Lewine Glencore,
US
Karen Mikkleborg
Nexen, Calgary AB
Tone Vaila Statoil
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LEAP EC
© LEAP 2011
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LEAP DELIVERY
JAN-06|
JAN-09|
JAN-08|
LEAP Settlements White Paper
draft
Pipeline Contracts
Master 1.0
ISDA adopts v2, creating U.S. Crude Oil and
Refined Petroleum
Products Annex
First physical oil match on ICE eConfirm
LEAP Master
2.0 adds US crude
Navarik contributes electronic
Inspection Data standard
JAN-07|
JAN-10|
JAN-11|
Annex C Marine
Annex 1.0
Canadian Addendum
2.3b
LEAP Accomplishments – A Brief History
Canadian Addendum
2.2
LEAP Master 2.1
ICE eConfirm
for Physical
Crude Oil in Canada
LEAP’s 2011 Key Initiatives
© LEAP 2011
© LEAP 2011
The LEAP 2011 Initiatives
LEAP Prime
Initiatives
NW European
Barge Contract
(Annex)
Pipeline Bookouts
RINs GT&C’s
Broker Matching
eDocs (Electronic Cargo
Docs)
NA Rail / Truck
Contract
(Annex)
10
© LEAP 2011
Other Potential LEAP Initiatives
Contract Matching Redesign
Inspection Standards
Dodd Frank Implications & Impacts
Automated OTC Margin Matching
Settlement Matching
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12© LEAP 2011
How To Get Involvement
• Several levels are available• Take a test run as a non-LEAP member• Join LEAP as a Full Member (fee is prorated) - Actively
participate, vote in the Work Groups, assign a representative to the LEAP Board, become a member of the Executive Committee decision process
Levels of Involvement:
• As a non-member: You are invited to observe the Work Group process, but not actively participate in the meeting dialog or direction
• As a LEAP member:• The option of Board membership is available (a commitment of 2
hours a month) • Active participation in a Work Group (Initiative)• A commitment of resources is expected to staff your Work Group• The pay-back is direct influence in the direction of the Initiative and
Work Group effort
Participation
• Identify areas of interest (initiatives) that best suit your org• Make a participation commitmentNext Steps
QUESTIONS
Where to find out more about LEAPhttp://energyleap.org/
© LEAP 2011
Appendix
© LEAP 2011
© LEAP 2011
US Pipeline Bookouts
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© LEAP 2011
RINs(‘Renewable Identification Number’ – as applies to Renewable Fuel
Standard Program )
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© LEAP 2011
Broker Matching
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© LEAP 2011
eDocs (Electronic Cargo Documentation )
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© LEAP 2011
NA Rail / Truck Contract - Annex
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© LEAP 2011
NW European Barge Contract - Annex
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