Dubai-based Al Ghurair Energy, part of Al Ghurair Investment, the worldwide trusted partner within the oil & gas, refining & petrochemicals and trading sector, just went live with ComFin Software’s newest trading and risk management platform, Comcore.
Headquartered in Dubai, Al Ghurair offers a strategic platform for making joint ventures with private and national oil companies to explore and develop the undeveloped fields for production. They are also active investors within the refining and petrochemicals industry, owning and operating a 220,000 BPD refinery in Libya in partnership with Libyan National Oil Co (entity called LERCO – Libyan Emirates Refining Co.).
The highest levels of professionalism and integrity have made Al Ghurair Energy a reliable business partner for both producers and consumers. Having become such an important market player, the need for a CTRM system in place had become a priority in the end. After the first meeting with ComFin they were blown away by Comcore’s high level of flexibility and easily conceded that their current spreadsheet-based system had become too cumbersome, error-prone and manual.
In the grand scheme of things, Al Ghurair Energy have selected ComFin’s technology for a number of reasons, most of all its quick deployment time frames, modular, bespoke approach and more than attractive licencing model. Mr Ajay Kumar, ( IT Manager at Al-Ghurair Energy) said “We were looking for a cost-effective, flexible and multi-functional front-to-back system that could be easily customisable and also one that easily adapts to our very specific needs as the nature of the business changes over time. After a series of meetings and demos (both remote and on-site) it became more than evident that Comcore was the right fit for us and it would empower all our different departments to work in a more integrated and consolidated manner. It really is an exciting time for us”.
Implementation and Training just took place in Dubai and they were a complete success. “It gives me great pleasure to communicate that the Comcore Application project for Al Ghurair Energy went live today successfully on Feb 24th , 2016”, stated Mr Marco Williams, Trading Manager at AGE. “It was hard to fathom at the beginning of the year that the implementation would be so smooth and all of the team members would perform with flying colours”, he concluded.
Gerald Neher, Managing Director at ComFin, said “We are really pleased to welcome Al Ghurair Energy onboard. From the word go we could tell both our system and approach could perfectly suit Al Ghurair Energy’s needs -nowadays and also very importantly moving forward. Obviously this was a big decision for them to make. During a few in-depth presentations we pretty much mirrored all their business scenarios on our system. In ComFin they will have a trusted, reliable business partner that will go out of its way to help them grow and best manage all their trading. It couldn’t be any other way at ComFin and we have quite a few happy clients who could vouch for this”.
Mr Ajay Kumar, IT Manager at AGE, added “We could see at first feel that Comcore would be capable of meeting our requirements with the possibility of adding further functionality along the way should our business models change. This gives us a lot of peace of mind. Also it feels really easy to use and it seamlessly brings together all our business processes. No more siloed approach for us”.
“I would like to thank the entire team at Comfin for all the support , dedication and hardwork everyone invested into this Project and making it possible for us to Go-live as per the planned schedule”, stated Mr Nabeel Nihal, Systems Analysis Manager at AGE who was very heavily involved in the Comcore implementation process. “I look forward to continuing the same momentum moving forward and to maintaining a good long-term relationship in the future”, he added.
About Al Ghurair Investment
Al Ghurair is one of the largest diversified industrial enterprises in the Middle East, with global reach and business roots stretching back half a century. Its core focus is on Foods, Construction, Resources and Properties, with additional sector participation in Energy, Printing, Retail and Education further emphasizing its level of diversity within the B2B and B2C sectors. Based in its native Dubai, Al Ghurair directs operations spanning 20 countries on four continents – meeting vital human needs from nutrition to housing; energy to education. Its Food operations include flour mills in Dubai, Lebanon, Sudan, Algeria and Sri Lanka; its rice production facilities in Lahore, Pakistan serve Retail and Bulk markets throughout the Middle East and North Africa; and the one million packs of noodles it produces every day are seen on supermarket shelves from North Africa to Asia. The Al Ghurair name is synonymous with the UAE and is proud to be part of its rich heritage. With a history of pioneering innovative businesses built upon excellence, trust and responsibility, Al Ghurair has a deep commitment to enhancing life in the communities it serves.