Singapore (November 2020) — Enuit, LLC announced today that INPEX ENERGY TRADING SINGAPORE PTE. LTD. (IETS) has begun implementing its flagship product, ENTRADE® to manage their trading risk and derivatives for crude oil.
INPEX CORPORATION (INPEX), the ultimate parent company of IETS, is a leading energy company that proactively undertakes oil & gas exploration, development and production activities to contribute to a stable and efficient supply of energy. INPEX is currently involved in projects globally in about 20 countries, including the Ichthys LNG Project in Australia and the Abadi LNG Project in Indonesia as operator.
In the last few years, IETS has had phenomenal success in crude oil marketing and trading are expecting an increase in crude oil transaction volume from 2021 onward including derivatives transactions. Due to this growth, IETS realized that they need a new system, which is sufficient to manage this new type of business.
In Q2 of 2020, they reached out to several ETRM vendors to participate in an RFP process and after a vigorous selection process eventually decided to select ENTRADE® to help them manage their front, middle and back end operations, including deal capture, operations, risk management and settlements for crude oil. Also noteworthy is ENTRADE’s fully automated SAP interface and its workflow processes implemented for trade and invoice approval and control processes.
Mr. Genta Okamoto, Executive Director of IETS, said, “When we decided to look for a new system, we wanted to work with a partner we could trust, with a world class system, a good support team and great functionality to support us as we grow. We have found this in Enuit.”
About INPEX CORPORATION
INPEX CORPORATION is Japan’s largest exploration and production company, and a mid-tier E&P player just behind the world’s oil majors. INPEX is currently engaged in projects globally in about 20 countries, including the Ichthys LNG Project in Australia and Abadi LNG Project in Indonesia as operator as well as onshore and offshore oil fields in Abu Dhabi in the United Arab Emirates and one of the largest natural gas supply infrastructures in Japan. Through sustainably growing its oil and gas development business, developing a global gas value chain business and reinforcing its renewable energy initiatives, INPEX aims to become a leading energy company and continue providing a stable and efficient supply of energy to its customers.
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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