|DynMcDermott Uses Allegro 8 in Managing the U.S. Strategic Petroleum Reserve for the U.S. Department of Energy|
DALLAS, TX, January 26, 2011 - Allegro Development, a leading provider of energy trading and risk management (ETRM) software, is pleased to announce that DynMcDermott Petroleum Operations Company is using Allegro 8 in its management and operating services to the U.S. Department of Energy on the Strategic Petroleum Reserve (SPR) project.
The Strategic Petroleum Reserve (SPR) was established by the Energy Policy and Conservation Act of 1975 in the aftermath of the 1973 Arab oil embargo. Its mission is to store crude oil to reduce the adverse economic impact of a major petroleum supply interruption to the United States and carry out obligations under the International Energy Program. The SPR is the largest emergency crude oil reserve in the world and is highly visible when oil prices rise or when global conflicts cause potential oil supply interruptions. The SPR is a strategic asset and America's energy insurance against disruptions to the world's flow of crude oil.
"We are extremely proud that Allegro can play a role in supporting the integrity of the U.S. energy supply," said Eldon Klaassen, CEO of Allegro Development.
DynMcDermott provides management and manpower to operate and maintain the SPR and related pipeline systems as the Department of Energy's primary contractor. The scale of the SPR requires a secure, flexible system capable of providing real-time views of complex petroleum inventory movements and adapting to specific process requirements. DynMcDermott selected Allegro to deploy a comprehensive Crude Oil Inventory Tracking and Valuation System to meet its special needs.
The Allegro software provides the ability to view and analyze key inventory data from all points across the SPR's complex operations. With Allegro 8, DynMcDermott can access an accurate and timely picture of current inventory, internal movements, and external drawdowns (releases) when required.
About Allegro Development
Allegro is a global leader in energy trading & risk management solutions for power and gas utilities, refiners, producers, traders, and commodity consumers. With more than 29 years of deep industry expertise, Allegro’s enterprise platform drives profitability and efficiency across front, middle, and back offices, while managing the complex logistics associated with physical commodities. Allegro provides customers with agile solutions to manage risk across natural gas, power, coal, crude oil, petroleum products, emissions, and other commodity markets, allowing decision makers to hedge and execute with confidence. Headquartered in Dallas, Texas, Allegro has offices in Calgary, Houston, London, Singapore, Sydney, and Zurich, along with a global network of partners.
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