Statoil selects Financial Objects’ energy credit risk solution

Norwegian oil & gas company Statoil is to implement Financial Objects’ energycredit solution worldwide. The solution will enable Statoil to manage credit risk across all of its energy trading operations. Installation began in April, and is expected to go live by the end of the year.

Statoil’s decision to install energycredit was driven by the need to provide increased levels of functionality throughout the Statoil Group. Statoil was also experiencing increased trading activity across global operations with an increasingly diverse counterparty landscape. energycredit was identified as being able to handle these demands and, importantly for Statoil, had a proven track record of successful implementation in its key markets.

“energycredit should enable us to improve