Phil Steed, P.E.
Principal Areas of Practice
- Strategic & Market Analysis
- Mergers & Acquisitions
- Operations Optimization
- Project Feasibility & Management
- Litigation Support
Phil is a Managing Director at Opportune LLP. He provides technical, economic, and business consulting services to the downstream industry. With over 35 years of industry experience, Phil offers expertise to a wide range of clients in project development, strategic analysis, capital planning, asset valuation, due diligence, market/industry analysis, technology assessment, business planning, and financial analysis of refining and related assets. Phil has completed assignments for refining and marketing companies, commodity traders, private equity, financial institutions, government agencies, and national oil companies,
Prior to joining Opportune, Phil was Co-Founder and President of NEXIDEA, Inc., a successful downstream consulting firm providing technical, economic, and business consulting services world-wide. Phil assisted clients in North America, Europe, Russia, Latin America, Africa, and the Caribbean. NEXIDEA became a part of the Opportune downstream consulting team in 2015. Phil also held various positions with Phillips Petroleum and Gulf Oil Chemicals prior to his consulting career.
Phil holds a Bachelor of Science degree in Chemical Engineering from the University of Missouri and a Masters degree in Business Administration from Oklahoma State University. He also currently serves on the MBA Advisory Board for the Trulaske College of Business, University of Missouri.
- Led the technical and economic analysis of a refining company in Europe during acquisition by an investor group. Advised client regarding company valuation and performed due diligence of two refineries and related assets. Investigated the operation, condition, capability, future potential, and need for capital investment of each facility.
- Assisted a US trading company in development of a large refinery project in South America. This assignment included definition of a revamped configuration that met certain contractual requirements while maximizing return to the investors. The project included on-going analysis of refinery configuration during the detailed design phase to optimize the crude slate under prevailing market conditions.
- Led the feasibility study of a large refinery on the west coast of Africa to supply inland markets for a national oil company. The feasibility study comprised analysis of local markets. Product specifications, crude oil availability and supply, refinery configuration, capital costs, and project economics.
- Offered expert testimony regarding the value of a northwest European refinery in a binding arbitration between joint venture partners. Testimony included how assets could be sold, how they would be valued by prospective investors, analysis of the factors affecting the value of refineries in Europe, as well as analysis of market forces which set refining margins.