Insights : GS Caltex goes live with CoreTRM for its trading and risk management

Jul 2022

01 July 2022

CoreTRM, the Singapore-based provider of commodity trading and risk management (CTRM) solutions, announced today that GS Caltex (GSC) has successfully gone live with CoreTRM.

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.

The implementation of CoreTRM covers the full lifecycle of GSC’s diverse and complex business activities from crude purchase through to product sales. The solution includes enhancements for crude/product planning & scheduling, KPIs, margin tracking and vessel deal capture. Using a combination of CoreTRM’s open API structure and a newly developed Interface Builder, CoreTRM has also been seamlessly integrated with SAP and other 3rd party products.

The strength and depth of CoreTRM’s functionality, combined with the expertise of the implementation team led to a smooth implementation of an innovative solution that addresses the numerous business and technical challenges presented by the project.

Ron Garden, CEO of CoreTRM commented that, “We are delighted to have implemented another CTRM project on time and within budget. The success of this project demonstrates our ability to deliver on our promises to clients of all sizes, complexities and locations.”

T.Y. Shim, VP New Energy / Operation of GS Caltex, said: “We are pleased to be going live with CoreTRM, especially with the extended capabilities that embrace the full breadth of S&T Division’s business and work processes from planning and scheduling to operations. In addition, the expertise and flexibility of CoreTRM and its implementation team allowed us to successfully integrate very tightly with SAP, which was an essential part of our project.”

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