Insights : CoreTRM selected by GS Caltex to handle its trading and risk management

Oct 2021

04 October 2021

CoreTRM, the Singapore-based provider of commodity trading and risk management system (CTRM) solutions, announced today that GS Caltex (GSC) has selected CoreTRM to improve the efficiency in its trading organization and to meet management requirements.

GSC is a South Korean major oil company, which is a 50:50 joint venture between US oil major Chevron and GS Energy, a GS Holdings subsidiary.

As part of its Digital Transformation journey, GSC had been considering implementing an ETRM system to help manage its diverse and complex business activities more efficiently, especially related with international trades. GSC has selected modern and SaaS based CoreTRM after reviewing various vendors.

This project also serves to create a valued partnership with Principia Consulting who was selected by GS Caltex in view of their profound experiences.

Ron Garden, CEO of CoreTRM commented that, “GS Caltex is a welcome addition to our rapidly increasing customer base. This implementation will cover the whole life-cycle of GSC’s trades related with crudes and products deals and we are looking forward to providing them with efficiency and global standard process in that area.”

T.Y. Shim, VP Light Products of GS Caltex, said: “S&T division’s goal of DX journey is to minimize non-core activity and maximize core competency. By implementing CoreTRM, GSC is looking forward to laying the foundation to apply global standard processes and increase efficiency of its trading and risk management activities. We believe CoreTRM shall provide best user experience and pave the road for us to reach our goal of Digital Transformation journey.”