DTN Energy Announces Acquisition of PetroDEX Petroleum Exchange from GE Global eXchange Services.Business Editors OMAHA Omaha, city, United States Omaha (ō`məhä, –hô), city (1990 pop. 335,795), seat of Douglas co., E Nebr., on the west bank of the Missouri River; inc. 1857. , Neb.--(BUSINESS WIRE)--Jan. 16, 2002 DTN See disruption-tolerant network and delay-tolerant network. Energy, the leader in data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. and eBusiness solutions for the downstream petroleum marketing industry, announces its acquisition of the PetroDEX petroleum exchange from GE Global eXchange Services (GE GXS GXS Global Exchange Services (GE) GXS Gun X Sword (anime) ), effective December 31, 2001. PetroDEX has been providing services to the petroleum industry for over 27 years. PetroDEX applications currently serve more than 300 companies, including every major U.S. refining refining, any of various processes for separating impurities from crude or semifinished materials. It includes the finer processes of metallurgy, the fractional distillation of petroleum into its commercial products, and the purifying of cane, beet, and maple sugar company, and handle in excess of 50 million transactions annually. Forbes.com recently named PetroDEX among the "Best of the Web" in the oil and gas sector. DTN Energy's purchase of the entire PetroDEX suite of applications includes: PETROEX PETROEX Petroleum Product Exchange , TABS, RECON, and Total Reconciliation. These applications provide efficient, online collaboration between trading partners in the downstream petroleum supply chain. Partners can collect, monitor, and manage inventory and receivables information, achieve reduced reconciliation costs, and improve back-office efficiencies. "Integrating PetroDEX, now DTN PetroDex, with our current product solutions brings the downstream petroleum industry closer than ever to having a true end-to-end integrated data solution," states Erik Betz, CTO (Chief Technical Officer) The executive responsible for the technical direction of an organization. See CIO and salary survey. & Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of DTN Energy. "DTN PetroDex will provide all stake holders in the supply chain with a comprehensive set of tools to streamline terminal and product inventory data management, increase product distribution efficiency, and reduce transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). ." Integration of the DTN PetroDex solutions, the industry's largest aggregated information database of rack inventory, with DTN iLoad's online terminal data management solution will offer suppliers the ability to integrate their management decisions at the terminal, in real-time, for price setting, product and exchange allocations, inventory position management, and reconciliation with exchange partners. "Our goal is to extend the inherent value of DTN PetroDex's product solutions to petroleum Marketers, Transporters and Retailers through our `chained equity' for eBOL's to improve their receivables management. For example, a Marketer can now receive both eBOL's and prices from DTN Energy to efficiently audit their Supplier invoices and calculate their customer billing, shortening their order to pay cycle. Reconciliation with actual invoices sent via DTN DataConnect speeds up the match-pay process," says Erik Betz. "DTN PetroDex greatly extends our core DTN DataConnect solution from posted rack pricing into real time rack terminals data management." About DTN Energy Founded in 1991, DTN Energy is a seasoned Technology Services company that delivers real product solutions designed to improve data communication and transaction efficiencies for all stake holders in the Refined Fuels supply chain. DTN Energy's core mission is to provide real value to their customers in the downstream petroleum marketing and distribution marketplace through improved Supply Chain Management efficiency. Visit their website at www.dtnenergy.com for more information. |
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