Dubai-based OTI to manage its energy trading business via a centralised ETRM system
LONDON, December 10, 2015 – Oman Trading International (OTI) and Allegro Development Corporation today announced that OTI has chosen the Allegro 8 platform to manage its oil and refined products trading business. OTI Trading will use Allegro’s enterprise class software to manage its oil and refined products trading activities across the full transaction lifecycle.
Headquartered in Dubai, OTI sources, transports and markets natural resource products from around the globe. The company can locate, move, blend and deliver products always meeting the unique specifications and needs of each of its clients.
In response to rapidly changing markets and to significantly expand operations into new product areas and regions, OTI recently changed ownership to a wholly owned Omani organisation. This will allow the company to evolve into a global trading powerhouse.
“We needed a centralised ETRM system to manage our energy trading business and we selected the Allegro Platform because we found it innovative, sophisticated and adaptable to our trading and risk management needs,” said Said Al Maawali, VP Petchem and Business Development, OTI. “We strongly believe that Allegro’s technology will help us achieve better portfolio, trade lifecycle and risk management, which are ultimately our business goals,” continued Al Maawali.
Allegro will support OTI across the entire transaction workflow, including front-to-back office, operations & logistics, with the following benefits:
Ian Evans, regional sales manager, EMEA at Allegro Development commented: “Competing against a number of established international vendors, Allegro proved to OTI that we have the most comprehensive physical oil and refined products functionality in the industry. It further demonstrates our ability to develop and implement trading and risk management solutions that meet the needs of the global energy market and illustrates Allegro’s ability to serve the Middle East’s leading producers and traders.”
• Ability to manage multiple commodities on a single platform
• Professionalism and reactivity during the sales process
• Flexible architecture and configurability to support business needs
• Easy integration with their existing IT infrastructure
• Scalability to quickly enter new markets
• Real-time data for decision making and risk analysis and reporting
• Rapid implementation and deployment
Oman Trading International’s (OTI) (established in 2006) key function is to trade oil, petroleum products and petrochemicals in the global market place. The company is owned by Oman Oil Company (OOC) and the Oman State General Reserve Fund (SGRF). With a strong sense of Omani heritage and identity, but with global aspiration, OTI has become a choice partner for many large companies in the industry. The company is one of the main off-takers of Omani crude oil, and an active player in the Dubai Mercantile Exchange. OTI has grown its business significantly since inception and currently trades more than 16 million tonnes of energy products annually. In addition to exclusive agreements with Orpic refineries and Salalah Methanol in Oman, OTI has developed an extensive international network and forged a notable presence in the global market. For more information, visit http://www.omantrading.com.
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 allegrodev.wpengine.com or contact Samantha Johnston at firstname.lastname@example.org or +188.8.131.5249.