PetroChina, as a leading enterprise in the Chinese energy industry, has its trade sector represented by Petro China International (PCI), a major participant in global crude oil and derivative trading. In order to enhance the efficiency of its global trade operations, reduce and control risks, and adapt to the rapidly changing international market, PCI selected the Fusion system from YHWL as its sole global trade business management system.
Beginning in 2009, YHWL has been providing practical services for the implementation of the Fusion system at PCI. By 2016, Fusion had been successfully deployed at PCI’s headquarters and major overseas branches, including the Beijing headquarters, Hong Kong Capital Center, Singapore, the United States, and Canada. The Fusion system encompasses a comprehensive business management system covering front, middle, and back-office operations, including physical and paper commodity trade entry, broker daily reconciliation confirmation, physical trade execution, physical inventory management, portfolio management, mark-to-market profit and loss management, mark-to-market exposure management, physical settlement, futures and paper commodity settlement, financial system interface, fund management, and contract signing management.
With the assistance of the Fusion system, PCI has achieved full lifecycle management, ensuring real-time control over aspects such as procurement, sales, warehousing, logistics, funds, and risks. This has streamlined and transparentized its business processes, significantly improving operational efficiency and risk management capabilities. Additionally, modules like portfolio management and mark-to-market profit and loss management provided by the Fusion system offer real-time monitoring and support for risk management, enabling PCI to effectively respond to market risks and fluctuations, ensuring stable business operations.
As Fusion continues to be promoted and applied within PCI, its role as the sole global business management system for PCI’s crude oil business (the primary PCI business segment) has become increasingly clear. Today, the Fusion system, covering the entire lifecycle and all business areas, has become an indispensable core system for China’s petroleum import and export business.
The Fusion system pioneers information systems in China’s bulk commodity trading sector, providing comprehensive support for the entire business lifecycle of PetroChina International. In terms of internationalization, Fusion supports multiple languages and currencies, providing real-time data and support globally. In terms of standardization, Fusion supports modular design and flexible configuration to adapt to different business needs. In terms of foresight, Fusion offers advanced risk management, cost management, and business process optimization, allowing PetroChina International to maintain a leading position in the competitive landscape.
The application of the Fusion system in PetroChina International has significantly accelerated trade activities, elevating accuracy and efficiency. Particularly in data collection, risk management, and fund settlement, the Fusion system has brought tremendous benefits to PetroChina International, substantially reducing costs and increasing efficiency.
