• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Buckeye Energy Services Selects SolArc to Provide Energy Marketing and Risk Management Solution

Posted on: Wednesday, 13 August 2008, 12:00 CDT

Buckeye Energy Services (BES), a rapidly growing refined products marketing organization and a subsidiary of Buckeye Partners, L.P. (NYSE: BPL), has chosen the RightAngle integrated application suite from SolArc, a global provider of commodity supply, trading and risk management software solutions.

Buckeye Energy Services has selected SolArc's RightAngle solution, which is used by more than 50 industry-leading companies around the world, to provide a single, comprehensive solution for current and future operations. Areas supported will include Refined Products Deal Capture, Scheduling and Movement, Inventory, Risk and Credit Management and Accounting. By integrating all of these critical capabilities into a shared organizational view, Buckeye Energy Services will ensure greater insight and control of its diverse energy marketing and risk management operations.

"With SolArc's expertise and exclusive focus on commodity marketing, we feel RightAngle was the right system to support our current and future operations for this critical part of our growing business," said Todd Johnson, vice president of commercial operations at Buckeye Energy Services. "SolArc has earned a positive reputation in the industry for its years of experience in the ETRM arena, successful implementations and proactive customer engagements. This is the kind of vendor and working relationship we were looking for. We will rely on SolArc and the RightAngle solution to help us accurately handle both the physical and financial activities of our fuel marketing business, better support our fuel storage operations and provide much more comprehensive risk management tools to enhance profitability and operational effectiveness. After a detailed evaluation process, we feel very confident that we have selected the right vendor and the right product to successfully support our business requirements."

"Since 1991, we've provided industry-leading companies, like Buckeye Energy Services, with a focused software solution to gain greater insight and control over their commodities supply, marketing and trading operations," said SolArc CEO Brad Anderson. "We're excited about this opportunity to work closely with Buckeye because we know that their requirements and our offering are exceptionally well aligned. As we do for every customer, we're going to work closely with them through the implementation and beyond to ensure they receive positive, measurable business results."

About SolArc

SolArc, Inc. is a global provider of commodity supply, trading and risk management solutions for leading companies in commodity-intensive markets. SolArc's integrated software solution offers customers greater insight and control over their complex commodity supply and trading environments, delivering increased operational effectiveness and profitability at lower risk.

Since 1991, SolArc has become a trusted solution provider for an international clientele of more than 50 leading corporations across a range of vertical industries, including energy, transportation, finance, aviation, agriculture and consumer goods around the globe. SolArc is headquartered in Houston and has offices in Tulsa, Dallas, London and Singapore. For more information, visit www.solarc.com.

About Buckeye

Buckeye Partners, L.P. (www.buckeye.com) is a publicly traded partnership that owns and operates one of the largest independent refined petroleum products pipeline systems in the United States in terms of volumes delivered, with approximately 5,400 miles of pipeline. Buckeye Partners, L.P. also owns 63 refined petroleum products terminals, operates and maintains approximately 2,200 miles of pipeline under agreements with major oil and chemical companies, owns a major natural gas storage facility in northern California, and markets refined petroleum products in certain of the geographic areas served by its pipeline and terminal operations. The general partner of Buckeye Partners, L.P. is owned by Buckeye GP Holdings L.P. (NYSE: BGH).

Formed in 2007, Buckeye Energy Services is a subsidiary of Buckeye Partners, L.P. that concentrates on the storage and distribution of refined petroleum products.

Source: Business Wire

More News in this Category