Renowned as one of the largest oil and gas producers and traders in the world, the Americas subsidiary of a foreign-based company has trading operations in Houston, Calgary, Brazil and Venezuela. The company trades more than 1 million barrels a day of petroleum products (crude oil, refined oil, natural gas and petrochemicals) and has a total trade volume of 80 million tons per year. In total the parent company’s trading activities cover over 100 types of products in 80 countries.
In Houston, their main trading hub in the United States, this company uses Cloud9 for their voice trading operations. The product was first implemented on their natural gas desks, and later on their crude oil desks after traders experienced the platform’s reliability, ease of use, and ease of connecting to counterparties via the Cloud9 community. Cloud9 enables them to:
- Reduce costs
- Connect with and find new counterparties faster
- Eliminate reliance on legacy telephony equipment
We had seen various solutions from other companies, and they would describe a multitude of features, but when it came time to test those products they didn’t work the way we expected them to, and they lacked the number of on-net traders that Cloud9 has. Cloud9 came in with the largest community of energy traders on net, crystal clear voice quality, and an extremely reliable product.
uptime supported by Cloud9 to ensure PetroChina’s trade volume
reduction in trader voice costs
increase in efficiency finding and connecting with counterparties via the Cloud9 Community