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Page last updated at Thursday, June 30, 2011 8:08 AM //
Chase Petroleum Ghana Limited (Chase) has chosen AspectCTRM Standard Edition (SE), a web-based multi-commodity trade and risk management system from UK-based company, Aspect Enterprise Solutions, to manage its oil trading and risk management operations.
Chase is an oil trading and distribution company specialized in trading crude oil and bulk refined products between Africa and Europe and is active in transportation, storage and distribution of petroleum products.
“AES’ AspectCTRM SE was selected after other vendor systems and in-house options were investigated…the high cost and long deployment time-frames from software vendors which required hardware, software and maintenance made AES the preferred choice”, AES said in a statement on June 27, 2011.
The CTRM system will keep track of trades and allow visibility across the company with users travelling regularly and it can be accessed from anywhere with an internet connection since it is fully web-based, it said.
The CTRM will also give pricing of oil trades from the international market.
Kwasi Deh, Head of Commercial at Chase, was quoted in the statement as saying “AspectCTRM was the best option for us. It matched our requirements exactly and we were already familiar with AspectDSC so it was so easy to move across.”
By Ekow Quandzie
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Chase Petroleum Ghana selects firm to manage its oil trading and risk management operations