Buckeye Energy Services Selects SolArc to Provide Energy Marketing and Risk Management Solution
Click here to view PDF
HOUSTON (August 13, 2008) – Buckeye Energy Services (BES), a rapidly growing refined
products marketing organization and a subsidiary of Buckeye Partners, L.P. (NYSE: BPL), has
chosen the RightAngle integrated application suite from SolArc, a global provider of commodity
supply, trading and risk management software solutions.
Buckeye Energy Services has selected SolArc’s RightAngle solution, which is used by
more than 50 industry-leading companies around the world, to provide a single, comprehensive
solution for current and future operations. Areas supported will include 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, Buckeye Energy
Services will ensure greater insight and control of its diverse energy marketing and risk
management operations.
“With SolArc’s expertise and exclusive focus on commodity marketing, we feel
RightAngle was the right system to support our current and future operations for this critical part
of our growing business,” said Todd Johnson, vice president of commercial operations at
Buckeye Energy Services. “SolArc has earned a positive reputation in the industry for its years
of experience in the ETRM arena, successful implementations and proactive customer
engagements. This is the kind of vendor and working relationship we were looking for. We will
rely on SolArc and the RightAngle solution to help us accurately handle both the physical and
financial activities of our fuel marketing business, better support our fuel storage operations and
provide much more comprehensive risk management tools to enhance profitability and
operational effectiveness. After a detailed evaluation process, we feel very confident that we have selected the right vendor and the right product to successfully support our business requirements.”
“Since 1991, we’ve provided industry-leading companies, like Buckeye Energy Services, with a
focused software solution to gain greater insight and control over their commodities supply,
marketing and trading operations,” said SolArc CEO Brad Anderson. “We’re excited about this
opportunity to work closely with Buckeye because we know that their requirements and our
offering are exceptionally well aligned. As we do for every customer, we’re going to work
closely with them through the implementation and beyond to ensure they receive positive,
measurable business results.”
About SolArc
SolArc, Inc. is a global provider of commodity trading and risk management software and services that can dramatically improve the operational and financial performance of companies dependent on commodity-intensive markets.
SolArc’s integrated application suite delivers greater enterprise insight and control over the entire commodity-based value chain within an organization. The SolArc solution offers innovative technology based on industry-leading services and world-class expertise that connect professional disciplines like trading, scheduling, accounting and risk management across both physical and financial commodity transactions.
Since 1991, SolArc has become a trusted solution provider for an international clientele of leading corporations across a range of vertical industries, including Energy, Transportation, Finance, Agriculture, Consumer Goods and others. Headquartered in Houston, Texas, SolArc also has offices in Tulsa, Oklahoma, London, and Singapore.
About Buckeye
Buckeye Partners, L.P. (www.buckeye.com) is a publicly traded partnership that owns and operates one of
the largest independent refined petroleum products pipeline systems in the United States in terms of
volumes delivered, with approximately 5,400 miles of pipeline. Buckeye Partners, L.P. also owns 63 refined
petroleum products terminals, operates and maintains approximately 2,200 miles of pipeline under
agreements with major oil and chemical companies, owns a major natural gas storage facility in northern California, and markets refined petroleum products in certain of the geographic areas served by its pipeline
and terminal operations. The general partner of Buckeye Partners, L.P. is owned by Buckeye GP Holdings
L.P. (NYSE: BGH).
Formed in 2007, Buckeye Energy Services is a subsidiary of Buckeye Partners, L.P. that concentrates on the storage and distribution of refined petroleum products.
|