PetroChina, a leading enterprise in China’s energy sector, with its trade sector, China Oil, or Petro China International (PCI), is one of the main participants in the global trade of crude oil and its derivatives. To improve the efficiency and risk management of trading operations and keep up with the fast-changing international market, PCI chose YHWL’s Fusion system as its exclusive management system for global trade operations.
Since 2009, YHWL’s Fusion has been providing Fusion system services to PCI. As of 2016, Fusion has been implemented at PCI’s headquarters and main overseas branches (Beijing Headquarters, Hong Kong Capital Centre, Singapore, the United States, Canada). The Fusion system covers a complete business management system covering front, middle, and back offices, including commodity futures trading entry, broker daily report comparison and confirmation, physical trading entry, physical trade execution, physical inventory management, portfolio management, mark-to-market profit and loss management, mark-to-market exposure management, physical settlement, futures settlement, financial system interface, capital management, contract countersign management, and so on.
With the help of the Fusion system, PCI has achieved full lifecycle management, including real-time control of purchasing, sales, storage, logistics, funds, risk, and other aspects, which has made its business process more standardized and transparent, greatly improving the efficiency of business execution and risk management level. Also, the Fusion system’s portfolio management and mark-to-market profit and loss management modules provide real-time monitoring and risk management support for PCI, helping PCI effectively deal with market risks and volatility and ensuring the stable operation of its business.
With its continuous promotion and application within PCI, the Fusion system’s status as the exclusive global business management system for PCI’s crude oil business (PCI’s most important business sector) has gradually become clear. Today, the Fusion system, which covers the whole lifecycle and all business areas of front, middle, and back offices, has become an indispensable core system for PetroChina’s import and export business.
The Fusion system is a pioneer in the field of information systems for bulk trade in China, providing comprehensive support for the business lifecycle of PetroChina International. In terms of internationalization, the Fusion system supports multiple languages and currencies and can provide real-time data and support globally. In terms of standardization, the Fusion system supports modular design and flexible configuration, catering to different business needs. In terms of foresight, the Fusion system provides advanced risk management, cost management, and business process optimization, keeping PetroChina International ahead in the competition.
In its application in PetroChina International, the Fusion system, with its efficient, accurate, and stable features, allows trade activities to be completed more quickly, and the accuracy and efficiency have been greatly improved. Especially in data collection, risk management, and fund settlement, the Fusion system has brought tremendous help to PetroChina International, greatly reducing costs and increasing benefits.
