OpenLink Selected by Australian Independent, United Petroleum

OpenLink Selected by Australian Independent, United Petroleum
28.07.2015 01:00 am

OpenLink Selected by Australian Independent, United Petroleum

Risk Management

OpenLink, the global leader in trading and risk management solutions to the energy, commodities, corporate, and financial services industries, today announced that United Petroleum has selected its RightAngle Energy Trading and Risk Management Solution.

United Petroleum is an independent, Australian-owned petroleum company and one of the fastest growing companies in Australia, specializing in the retail and wholesale fuel markets, and ethanol manufacture.

The OpenLink solution will enable the establishment of a new oil trading operation in Singapore, along with hedging and procurement of United Petroleum’s fuel purchases for more than 300 of their service stations throughout Australia.

Tom O’Brien, CEO of United Petroleum said: “The opportunity in Singapore, which is one of the world's largest and most important global commodity trading centers, represents an exciting business initiative for United, not only to reinforce our competitive supply position in Australia but also to leverage off that position into new product streams and markets in the wider Asia Pacific region. We are delighted to have chosen OpenLink to support us in this new venture, and we look forward to working together with their experienced team to implement OpenLink's comprehensive trade management platform.”

Greg Moyle, Head of Sales, APAC at OpenLink said: “Over 25% of fuel is imported in Australia by independents such as United Petroleum, compared to around 5% in 2008. We’re excited to be supporting the growing domestic market, while also underpinning United’s establishment of its international business and expansion into avenues of sourcing oil, fuel and refined products from the global market.”

Related News

NewB opts for Wolters Kluwer’s OneSumX for Risk Management

NewB, the Belgian ethical bankhas selected Wolters Kluwer’s ... Read more »

AvaTrade launches revolutionary AvaProtect for desktop trading

AvaTrade, an award-winning CFD broker, has launched AvaProtect – a revolutionary one-click risk management... Read more »

Ardent Financial selects SteelEye for MiFID II and MAR compliance

SteelEye, the compliance technology and data analytics firm, has been selected by Ardent Financial, a new FCA authorised Securities Dealer, to... Read more »

FICO Offers Free Cyber Risk Score 90-Day Trial in Europe

Cyber exposure is one of the most rapidly growing risks in today’s digital world. Almost daily, the media report on companies that have suffered data breaches where criminals... Read more »

Wolters Kluwer triumphs in operational risk awards

The ... Read more »

QuantaVerse offers AI-powered country code derivation to enable financial institutions to experience the potential of automated entity resolution

QuantaVerse, which uses AI and machine learning to automate financial crime investigation processes, is now offering the country code... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel