PDVSA unit CITGO Petroleum Corp. has selected Triple Point Technology’s (TPT) Commodity Management solution. Commodity Management (CM) is a joint SAP and Triple Point development for trading, risk management and operations.
Armstrong
TPT president Peter Armstrong said, ‘CITGO is the fourth organization and second major oil company to choose the joint SAP and Triple Point Commodity Management solution in the last 60 days. The market is clearly stating that for SAP customers, the pre-integrated SAP/TPT solution provides both the best function and business value.’
ERP
CM embeds TPT’s Commodity SL within SAP’s ERP platform. The tightly integrated package is tested by SAP and comes with a joint support program. CM is a component of CITGO’s ‘mid-office’ infrastructure—a project that aims to improve data integrity and create transparency across the value chain. CM incorporates physical and financial trades into one system, integrating front and mid-office with existing SAP back-office systems.
Coon
CITGO IT manager Gina Coon said, ‘As an existing SAP customer, it makes sense for us to adopt the only oil trading and risk management software solution endorsed by SAP. Also the integration effort, cost and ownership is moving from CITGO to SAP and Triple Point, lowering our risk and lifecycle cost.’ Other TPT customers include Engen Petroleum, Hess, Tesoro, OMV, ConocoPhillips, Petronas, Oxy, BG Group and Anadarko. More from info@tpt.com.
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