BP standardizes on TIBCO Software to manage energy trading businesses

TIBCO Software Inc. today announced it has been chosen by BP to integrate and automate its global energy trading and supply businesses.

BP has selected TIBCO Software’s Enterprise Application Integration (EAI), portal and Business-to-Business (B2B) integration software to develop and deploy common business practices, seek synergies between the energy trading and supply businesses, and capitalize on opportunities as they arise in the global energy markets.

BP’s primary aim is to maximize the amount of business that can be undertaken by its trading and supply businesses through optimizing the efficiency of their most valuable asset: the traders themselves.

This will be achieved through improved process automation, streamlining trading and risk management processes and decision support provisioning. All of this is made possible by TIBCO’s real-time infrastructure software and its accumulation of intellectual capital and best practices gained from working with more than 70 major energy customers worldwide.

Simon Orebi Gann, CIO of BP’s global energy trading and supply businesses said: “TIBCO’s software was chosen for this project not only because of its expertise in the energy arena, but also because of its inherent scalability, ease of deployment and compatibility with most energy trading and risk management applications.”

He added, “We need an infrastructure that not only meets our existing needs but also seamlessly expands and grows with the development of our operations. TIBCO has proven it can deliver this to companies of BP’s size.” Erik Hansen, president EMEA for TIBCO Software, commented: “We are seeing a growing trend towards energy trading as more and more markets deregulate. We have seen very strong demand in the US and we are now seeing a similar pattern in Europe.” He added: “TIBCO’s critical infrastructure will provide BP with a platform to improve process automation and business integration across its trading operations.”

TIBCO Software Inc. is a provider of business integration solutions delivering infrastructure software that enables businesses to seamlessly integrate business systems in real-time.

TIBCO can be reached on the web at https://tibco.com.

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