LOTOS Goes Live with the Allegro 8 Platform for Energy Trading and Risk Management
Poland’s integrated oil company goes live with the Allegro 8 platform to manage international trading operations
ZURICH, May 19, 2015 – Allegro Development Corporation today announced that Grupa LOTOS SA has completed the implementation of the Allegro 8 platform to manage its international crude oil and refined products trading operations.
LOTOS is a vertically integrated oil company based in Gdansk, Poland. The Allegro 8 Platform facilitates both the growth of LOTOS’ trading organisation operations and integrated financial risk management processes.
Leveraging Allegro, LOTOS now has the capability to:
- Streamline trading processes including physical and financial positions;
- Manage market price and credit exposure and create dedicated reports for wider financial risk management purposes;
- Efficiently manage the transport and storage of crude oil and refined products across vessel, rail and pipeline; and
- Manage complex transactions and pricing using market data interface.
“We are satisfied with Allegro’s highly flexible, integrated and technically efficient solution and recognize its high potential for further development. It has enabled us to optimise existing business processes – and introduce new ones – within the commodity trading and financial risk management area,” said Lukasz Kwiatkowski, Grupa LOTOS SA Head of Financial Risk Management. “Allegro’s solution provides us with a strong foundation to grow our expertise in different commodity classes and to deepen our system’s functional coverage with the scalability required for future growth.”
About LOTOS Group
Grupa LOTOS S.A. is one of the largest companies in Poland and vertically-integrated entity focused on crude oil exploration and production, petroleum processing, as well as commodities sales. Moreover LOTOS holds a strong position in lubes, greases and bitumen sales in Poland. Since June 9, 2005, Grupa LOTOS S.A. has been listed on the Warsaw Stock Exchange. LOTOS, throughout its business units located all over Europe (Poland, Norway, Lithuania), employs approximately 5,000 people. The company operates a state-of-the-art refinery (located in Gdansk). In 2011, using hi-tech solutions e.g. Best Available Techniques (BAT), LOTOS finished a comprehensive upgrade investment project (Programme 10+), whose main goal was to boost refining capacity to 10.5 mtpa. Due to Programme 10+, LOTOS is able to enhance Polish, NW Europe and CE Europe energy security policy, especially in the range of stable fuel supplies. On the upstream side, LOTOS Group is present on the Baltic Sea, Norwegian Continental Shelf and onshore in Lithuania. For more information please visit www.lotos.pl.
Allegro develops and markets integrated commodity management software providing position visibility, risk management, comprehensive controls and regulatory compliance. Allegro customers manage commodities from production to consumption, including oil and gas production, petroleum refining, agriculture and forestry, mining, chemicals, metals, food, transportation, commercial and utility sectors. Allegro software is tailored to the specific needs of each commodity, with a comprehensive set of features and functions to support profitable decisions. Allegro is headquartered in Dallas, with offices in Calgary, Dubai, Houston, Jakarta, London, Kuala Lumpur, Singapore, Sydney and Zurich.
For more information, please visit www.allegrodev.com or contact Samantha Johnston at firstname.lastname@example.org or +18.104.22.16849.