Over 26 years, Sanjeev Kumar Soosaipillai, transformed a single filling station into a multinational energy conglomerate with offices worldwide, generating revenues exceeding $10 billion. His journey from university student to leader of the Prax Group provided a masterclass in international business management, marked by strategic acquisitions across four continents, vertical integration from upstream to downstream, and the ability to maintain a family culture whilst managing over 1,400 employees at the company’s peak.
Building Trading Operations Across Global Markets
Sanjeev's international expansion began with establishing trading desks that handled crude oil, refined products, and biofuels across global markets. This foundation allowed Prax to negotiate long-term offtake agreements with upstream producers and build relationships with major international players.
The trading operations spanned Europe, Asia, the Americas, and Southern Africa. This geographical diversification provided resilience against regional market fluctuations whilst positioning Prax to capitalise on arbitrage opportunities across international markets. Sanjeev's expertise in multi-market trading enabled the company to source optimal crude oils and feedstocks from various international suppliers, ensuring competitive advantages in procurement.
Cross-Border M&A: From Europe to Africa
Sanjeev’s most significant international achievement lies in the Prax Group’s cross-border acquisition strategy. In 2019, Sanjeev negotiated a fuel network agreement with an international energy major, securing exclusive rights to use their branding on retail sites across the UK. This deal provided instant credibility and market recognition whilst building a national forecourt network.
The acquisition and integration of a major German-based retail brand represented a pivotal moment in European expansion. This transaction brought operations across four European countries into the Prax portfolio, requiring sophisticated integration of different regulatory environments, operational practices, and corporate cultures. The successful consolidation demonstrated their ability to manage complex international transitions.
Later, the acquisition of a 36.36% interest in National Petroleum Refiners of South Africa (Natref) marked the Prax Group's entry into the Southern African market. Natref, South Africa's only inland crude oil refinery with production capacity of 108,500 barrels per day, sits approximately 80 kilometres south of Johannesburg. The transaction included not just refining capacity but also businesses in Botswana, comprising terminal infrastructure, commercial operations, and retail networks, plus a 6% minority interest in a Single Buoy Mooring facility offshore Durban and a 36.6% holding in the Natcos crude storage facility.
Building International Infrastructure Networks
Sanjeev understood that truly integrated international operations required proprietary infrastructure. He established and acquired terminals and storage infrastructure across the UK, United States, and Belgium. This strategic positioning allowed Prax to control critical points in the supply chain, reducing dependence on third-party logistics whilst improving margins.
In marine fuel supply, Sanjeev developed operations in key UK ports and the Amsterdam-Rotterdam-Antwerp (ARA) region in Europe, one of the world's most important refining and petrochemical hubs. Securing aviation fuel contracts with regional airports, airfields, and private jet operators further diversified international revenue streams. These contracts often required meeting stringent international quality standards and navigating complex regulatory frameworks across different jurisdictions.
The 215-kilometre Finaline pipeline running from Prax Lindsey Oil Refinery to Buncefield represented a major infrastructure asset. This pipeline delivered multi-products to Greater
London, with additional connectivity to Heathrow Airport via the West London pipeline. Such infrastructure created competitive moats that were difficult for rivals to replicate.
Vertical Integration Across the Value Chain
Sanjeev developed end-to-end supply chain capabilities spanning upstream sourcing, refining, storage, logistics, terminals, and retail distribution. This vertical integration provided competitive advantages in international markets. Rather than depending on third parties at each value chain stage, Prax captured margins across multiple segments whilst maintaining quality control.
The Harvest Energy retail brand, launched domestically and grown to over 200 branded fuel stations through organic growth and bolt-on acquisitions, integrated with refining operations. Products from Prax Lindsey Oil Refinery flowed through Prax-owned distribution networks to Prax-branded retail outlets. This created synergies impossible for non-integrated competitors.
Looking Forward: Southern Africa and Beyond
Sanjeev's international business management approach combined strategic vision with operational excellence. He identified assets in strategic locations, negotiated competitive acquisitions, integrated operations effectively, and maintained culture across borders. His journey from a single service station to a multinational energy group with trading and operations across Europe, Asia, the Americas, and Southern Africa demonstrated that with calculated risk-taking, vertical integration, and strong partnership, extraordinary international growth became achievable.
