GAZPROM NEFT TRADING SELECTS SOLARC TO PROVIDE TRADING AND RISK MANAGEMENT SOLUTION
HOUSTON (October 6, 2009) - SolArc, a global provider of commodity supply, trading and risk management software and services, has been selected by Gazprom Neft Trading GmbH, an international marketing and trading company based in Vienna, Austria, to implement SolArc's RightAngle integrated application suite for its crude and refined products trading, operations, accounting and risk management requirements.
SolArc's RightAngle solution, which is used by more than 60 industry-leading companies around the world, has been selected by Gazprom Neft Trading to provide a single, comprehensive solution to support Gazprom Neft Trading's current and future operations. Areas supported will include Crude Oil and Refined Products Deal Capture, Scheduling and Movement, Inventory, Risk and Credit Management, and Accounting. By integrating all of these critical capabilities into a shared organizational view, Gazprom Neft Trading ensures greater insight and control of its diverse trading and risk management operations.
"With SolArc's expertise and exclusive focus on commodity and risk trading, and after a detailed evaluation process based on our business requirements, we felt that SolArc RightAngle was the right system to support our current and future operations for this critical part of our growing business," said Claudia Leissner, Head of Administration department at Gazprom Neft Trading. "SolArc has earned a positive reputation in the industry for its years of experience in the ETRM arena, successful implementations and proactive customer engagements. We will rely on SolArc and the RightAngle solution to help us accurately handle both the physical and financial activities of our international crude and refined product marketing business, and provide much more comprehensive risk management tools to enhance profitability and operational effectiveness."
"Since 1991 we've provided industry-leading companies, like Gazprom Neft Trading, a focused software solution to gain greater insight and control over their commodities supply and trading transactions," said SolArc CEO Brad Anderson. "We're excited about this opportunity to work closely with Gazprom Neft Trading because we know that its requirements and our offering are exceptionally well aligned. As we do for every client, we're going to work closely with Gazprom Neft Trading through the implementation process and work hard to make sure the project is a complete success and that this of sense teamwork is maintained for years to come."
About SolArc
SolArc provides commodity trading and risk management software and services for customers for commodity-intensive businesses. SolArc's flagship RightAngle integrated application suite and its natural gas-specific product give customers greater insight and control over their commodity trading environments optimizing profitability and operational effectiveness. SolArc also supports its customers by providing implementation and consulting services to ensure proper integration of its software platforms with existing internal systems both before and after implementation.
Founded in 1991, SolArc has been trusted by market-leading corporations across a wide range of vertical industries including energy, transportation, finance, aviation, agriculture and consumer goods around the globe. SolArc is headquartered in Houston and has offices in Tulsa, Oklahoma, London and Singapore.
About Gazprom Neft Trading GmbH
Gazprom Neft Trading GmbH, headquartered in Vienna, Austria, is the international marketing and trading arm of JSC Gazprom Neft, one of the largest oil and gas producing companies in Russia, and a subsidiary of JSC Gazprom - Russia's largest company. .
Gazprom Neft Trading is responsible for the marketing and trading of all Gazprom Neft's crude oil and refined products into markets outside of Russia. Gazprom Neft Trading has about 50 employees.
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