INPEX ENERGY TRADING SINGAPORE PTE. LTD. goes live with phase one of Enuit’s ENTRADE ETRM solution.
Singapore (August 2021) — Enuit, LLC announced today that INPEX ENERGY TRADING SINGAPORE PTE. LTD. (IETS) has gone live with phase one of Enuit’s ENTRADE ETRM solution for crude oil derivatives trades, risk and back-office management.
INPEX CORPORATION (INPEX), the ultimate parent company of IETS, is a leading energy company that proactively undertakes oil & gas exploration, development and production activities together with cleaner energy developments to contribute to a stable and efficient supply of energy to realize a net zero carbon society by 2050. INPEX is currently involved in projects across multiple continents, including the Ichthys LNG Project in Australia and the Abadi LNG Project in Indonesia as operator.
After completion of phase one IETS has now completed new trades for the purpose of hedging and physical and derivative trading.
The strong cooperation between IETS and Enuit has brought success in achieving the required functions implemented in Entrade to manage crude oil derivatives trades including a direct ICE Trade Capture interface, trade execution planning, trade process flow management, risk management, reporting, cashflow management and journal entry generation.
Tony Teo, Managing Director of APAC and Middle East said: “The dedicated commitment from the INPEX and Enuit teams has helped to ensure a successful phase one implementation within 6 months, even given the current difficulties with long-Covid” further he said “we look forward to our continued work with INPEX on the next phase of implementation”.
About INPEX CORPORATION
INPEX CORPORATION is Japan’s largest exploration and production company, and is currently involved in projects across multiple continents, including the Ichthys LNG Project in Australia as Operator. Through building a cleaner upstream business and advancing hydrogen and renewables solutions, INPEX aims to become a leading energy company and continue providing a stable and efficient supply of energy to its customers while pioneering energy transformation towards a net zero carbon society by 2050.
Visit: https://www.inpex.co.jp/english/ to learn more.
Enuit LLC provides enterprise risk management solutions, also known as ETRM/CTRM solution, for energy and commodities trading companies worldwide. We give our customers complete visibility, insights, control and management over their business operations helping them to have peace of mind to make quick and informed decisions that affect the bottom line. Enuit, LLC is headquartered in Houston, Texas, USA, with offices located in Beijing, China, London, Singapore, and Tokyo to serve markets in China, Asia-Pacific, Middle East, Europe, and North America. Enuit’s platform, ENTRADE®, supports Every commodity, every feature, and every user in one place. There’s no Third Party or Legacy System to integrate. We call it One Platform.
Visit https://www.enuit.com to learn more
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