Leading fuel distributor Atlas Oil Co. has successfully deployed the Techoil oil commodity management system, which is already benefiting Atlas' bottom line, according to an announcement Tuesday.
Techoil is a cloud software product developed by Inatech, the cloud computingarm of Glencore's oil division.
The two firms highlighted the economic backdrop to the Techoil deployment. "The implementation was carried out in under three months and teams from both Atlas and Inatech worked tirelessly to a fixed timeframe," Inatech said.
"Faced with disruptions to travel and business caused by the COVID-19 pandemic, the teams met their challenging timetable through robust project management, close cooperation and decisive action, ultimately achieving a smooth transition."
Atlas, headquartered in Taylor, Michigan, is one of the largest fuel distributors in the United States. The company delivers over 1 billion gal of fuel annually to customers in 49 states, making over 100,000 deliveries a year from more than 1,000 terminals nationwide.
Atlas offers many pricing contracts, "utilizing its buying power and market expertise to pass the savings on to customers." Risk management offerings include fixed price contracts, hedging, OPIS, pricing caps, and swaps and
collars. Emergency offerings include fuel assurance plans and generator assurance plans.
A key tenet of Atlas' growth plan is to "adopt the latest technology to manage risk, inventory and customer relationships while maintaining its unwavering commitment to customer success," the company said.
"Assigning Inatech to deploy Techoil has produced time and cost savings for Atlas' trading, supply and risk operations. Now in use, it is supporting rapid decision-making in a more complex environment by providing a holistic view of operations across trading, physical and derivatives, and inventory together with real-time information about products, prices and availability."
Clint Werth, Atlas' vice president of supply and logistics, added: "We needed a solution that could be configured to our way of working and Techoil provided that to us."
Sam Simon founded Atlas Oil in 1985. It is the original company in Simon Group Holdings. After beginning its corporate life distributing fuel to only 20 gas stations, Atlas today has a presence in real estate, chemical transport and in transportation logistics including bulk, fleet, event, onsite, emergency response, marine and oilfield services.
--Reporting by Rajesh Joshi, rjoshi@opisnet.com;
--Editing by Barbara Chuck, bchuck@opisnet.com
Copyright, Oil Price Information Service
