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| Source: United Petroleum website. |
United Petroleum, an independent, Australian-owned petroleum company, has selected OpenLink's RightAngle Energy Trading and Risk Management Solution for 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.
United Petroleum specialises in the retail and wholesale fuel markets, and ethanol manufacture while OpenLink provides trading and risk management solutions to the energy, commodities, corporate, and financial services industries.
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.”
United Petroleum specialises in the retail and wholesale fuel markets, and ethanol manufacture while OpenLink provides trading and risk management solutions to the energy, commodities, corporate, and financial services industries.
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.”
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