Parnon Holdings Inc. is a privately owned crude oil logistics company headquartered in Tulsa, Oklahoma. Parnon Holdings provides means of transportation and marketing for North America’s energy industry. It is the parent company of three U.S.–based operating entities: Parnon Storage, Parnon Energy and Parnon Gathering.

Parnon Holdings is a wholly owned subsidiary of Farahead Holdings Ltd.  Farahead is a private investment vehicle, but enjoys very strong relationships with major shipping, drilling, LNG and other oil infrastructure companies. Parnon looks to establish long–lasting relationships with independent producers and refiners and works to maintain and build upon these relationships by providing exceptional customer service.

Parnon has a sound financial platform:

  • No producer barrels are pledged against borrowings.
  • Through its ownership by Farahead Holdings, Parnon has substantial capital access.
  • Well-established banking relationships with leading global banks.
  • Follows stringent risk management policies and practices at each operating level.
  • Generates revenues by purchasing, transporting and storing crude oil and entering into sales transactions with third-party customers. This basic practice secures a profit on the transaction, while minimizing exposure to price volatility.

Quick Fact 3

In June 2009, Parnon Storage completed construction on five tanks each capable of holding 600,000 barrels of crude oil.