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WESTPORT, Conn. -- Hess Corp. selected Commodity XL for Oil from Triple Point Technology to manage its supply, trading, risk and logistics for crude oil and refined products, Marketwatch reported.
Hess required a proven front-to-back office solution for its value chain -- from trading and scheduling to planning and forecasting, as well as back office and settlement. Triple Point's Commodity XL provides Hess with real-time visibility into market position and exposure, while PhysOps 'Visual Cockpit' provides the company with supply chain logistics and inventory management support, the report stated.
"Hess' selection of Commodity XL, along with other notable oil customers, including CITGO, SOCAR, Hellenic Petroleum, Sheetz, Suncor, Engen Petroleum, and Valero Energy Corp., affirms Triple Point is the solution-of-choice for energy companies seeking an integrated platform that streamlines business operations, eliminates errors associated with manual processes, and creates a framework for better energy trading and enterprise risk management," said Michael Schwartz, chief marketing officer, Triple Point.
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