DALLAS -- (BUSINESS WIRE) -- Allegro Development Corporation, a leading provider of energy trading and risk management (ETRM) software, announced today that Grupa LOTOS S.A., parent company of an vertically integrated oil company LOTOS Group with headquarters based in Gdansk, Poland, selected the Allegro 8 platform to manage its international crude oil and refined products trading operations.
Grupa LOTOS sought an integrated system to support growth of trading organization operations and to support its integrated financial risk management processes. Leveraging Allegro, Grupa LOTOS will have capability to:
“Allegro differentiated itself with a highly flexible, integrated and technically efficient solution that allows us to optimize existing, and introduce new, business processes within commodity trading and financial risk management,” said Łukasz Kwiatkowski, Grupa LOTOS Head of Financial Risk Management.
“Using Allegro will allow Grupa LOTOS the freedom to expand and optimize their business as new market opportunities emerge,” said Jonathan English, Allegro Vice President, EMEA Sales. “We are pleased to be a part of this growth.”
Allegro is a global leader in energy trading & risk management solutions for power and gas utilities, refiners, producers, traders, and commodity consumers. With more than 28 years of deep industry expertise, Allegro’s enterprise platform drives profitability and efficiency across front, middle, and back offices, while managing the complex logistics associated with physical commodities. Allegro provides customers with agile solutions to manage risk across natural gas, power, coal, crude oil, petroleum products, emissions, and other commodity markets, allowing decision makers to hedge and execute with confidence. Headquartered in Dallas, Texas, Allegro has offices in Calgary, Houston, London, Singapore, Sydney and Zurich, along with a global network of partners. www.allegrodev.com
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About LOTOS Group
LOTOS Group includes – in addition to Grupa LOTOS S.A. (parent), LOTOS Czechowice, LOTOS Jasło and LOTOS Petrobaltic (gas and oil exploration and production) – more than a dozen subsidiaries trading under the LOTOS brand name. After the first three quarters of 2012, LOTOS recorded revenue of almost PLN 25bn (+19% y-o-y.). The net profit for the period was PLN 700m (+21% y-o-y).
As at the end of August 2012, LOTOS' share in the domestic fuel market was 34%. Through LOTOS Petrobaltic and LOTOS Norge, the Group is also present in Poland, Lithuania and Norway, where it is engaged in crude oil exploration and production. In 2011, LOTOS produced 230 thousand tonnes of crude oil. In accordance with the strategy for 2011-2015, LOTOS plans to achieve annual production of 1.2m tonnes of crude oil by 2015.
Communication Office, Grupa LOTOS S.A., ul. Elbląska 135, 80-718 Gdańsk, Poland, tel. (+48) 58 308 87 31, (+48) 58 308 83 88, e-mail: email@example.com