Our History

Discover how the Prax Group's journey has unfolded...

• 1999

  The Group’s founders create a bedroom start-up partnership in their twenties to trade petroleum products.
• 2000

  The parent company State Oil is incorporated as a supplier, wholesaler and retailer of petroleum products.
• 2002

  Prax is incorporated in order to separate integrated supply and optimisation from retail and wholesale operations.
• 2002-04

  The Group forms alliances to exploit strategic opportunities.
• 2005

  The Group achieves independent capabilities and commences autonomous trading.
• 2007

  The Group acquires its own oil storage facilities.
• 2012

  The Group further expands its oil storage portfolio providing additional capacity.
• 2014

  The Group acquires a fuel storage terminal.
• 2015

  The Group acquires a mid/downstream business, substantially expanding its global supply, oil storage, aviation and retail activities.
• 2016

  The Group acquires an oil terminal, adding further capacity to its storage portfolio.
• 2017

  The Group expands its marine bunkering business through an acquisition and further expands its retail network through additional acquisitions.
• 2018

  The Group expands its retail network and brand presence across the United Kingdom with a substantial acquisition.
• 2019

  The Group signs a historic branding agreement with an oil major.
• 2020

  The Group establishes a road tanker logistics operation.
• 2021

  The Group acquires an Oil Refinery.
• 2022

  The Group acquires ocean going vessels to strengthen its logistics capability.
• 2023

  The Group acquires an exploration and production company.