Petro-Diamond Inc. (PDI), an oil-trading firm owned by Mitsubishi Corp., has appointed Inatech to re-engineer and digitise its entire gasoline supply chain through implementing a new software platform.
PDI owns a 600 000-barrel terminal in the Port of Long Beach, California, US, from which it trades and markets petroleum products including gasoline, diesel oil and ethanol. It deals with oil companies including Royal Dutch Shell, Chevron, Phillips 66, Valero and Andeavor, as well as distributors, public transportation systems such as MTA, and government offices including the US military and police.
Inatech, which is owned by Glencore, specialises in energy trading risk management (ETRM) systems that support the full chain of business processes, from trading to transportation and delivery of oil. Inatech has adapted its core oil-trading product, called Techoil, to the needs of PDI, which includes catering to wholesaler distribution of gasoline and refined and renewable fuel products through so-called rack marketing. Inatech will start rolling out its system to at least 30 employees of PDI from autumn, with further integration following in a second phase next year.
Rack marketing incorporates real time pricing, sourcing, inventory and risk decisions. As market indices change multiple times a day, rack marketers evolve their positions and strategies relative to their counterparties to ensure that buyers can aggregate data quickly to issue instructions. The system integrates planning, contract execution, scheduling, pricing and settlement, and automates as necessary, allowing the trader to focus on analysing the market and data.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/04092018/petro-diamond-mandates-inatech-for-digitisation-of-us-gasoline-supply-chain/