Financial Daily from THE HINDU group of publications
Saturday, Oct 08, 2005

Port Info

Group Sites

Corporate - Information Technology
Info-Tech - Software

Accenture helps BPCL build TRM capability

Our Bureau

Mumbai , Oct. 7

ACCENTURE, a global management consulting, technology and outsourcing company, has helped Bharat Petroleum Corporation Ltd (BPCL) build a trading and risk management (TRM) capability, said Mr Sandeep Biswas, Partner, Accenture India, here today in a press briefing.

Accenture has helped BPCL realise the risks it is exposed to at a time when the crude prices are looking upwards and recommended a trading and risk management framework to it, he said.

The refining companies may see a further fall in their revenues if the gap between product and crude prices continues to reduce. A retailing company may not be able to pass on the price increase to the consumer. BPCL faces these problems as it is involved both in refining and retailing, Mr Biswas said.

The TRM has helped BPCL improve its decision-making in managing and measuring risk and reporting tools for all oil trades executed by its staff. It has also improved its efficiency through better matching of demand and supply.

Accenture helped BPCL define an overall governance structure and design a trading floor. This included responsibilities like project management, configuration and implementation of the IT platform and training of BPCL staff.

"Change in mindset is a massive change. Acquiring the mindset of a trader with a conscious attempt to manage prices, margins and cash flows (for BPCL) was never easy," he said.

Accenture wants BPCL and other Indian oil companies to become a price influencer and not a price taker. "India is huge enough a market to make this possible," Mr Biswas said.

This can have a say in changing the demand-supply dynamics in Asia, where at present China determines oil prices, he said.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Share Infoline Tata Safari Dicor

Stories in this Section
Saregama to co-produce Indo-American film

GM opts out of bidding for Daewoo
BHEL pays record dividend of Rs 196 cr
JK Corp is now JK Lakshmi Cement — Shifts part of corpus for new investment co
GMR Industries bags award
HC restrains DDA from physical possession of Escorts Heart
Priyamvada valuables to be shifted to bank lockers
Accenture helps BPCL build TRM capability
New corporate debt revamp norms soon, says RBI Governor
'Cos must disclose risk exposures'

Sutlej Ind to become an NBFC post-restructuring
Ruchi Soya to merge 6 group cos with itself
Reckitt swallows Boots' drug unit for $3.4 b — Agreement with Boots Piramal to continue: Swati Piramal
Delhi realtor buys 32% in Online Media
Eveready Ind takes over BPL Soft Energy
Innerwear brand Triumph to set up factory near Chennai
Gangotri Textiles plans Rs 351-cr expansion
Volkswagen team to visit AP for talks
A lesson or two from Dragon Land for Sundram Fasteners
Escorts' US arm to market SAME tractors in US, Canada
DaimlerChrysler holds road safety programme for school kids
HPCL plans to firm up debt for Punjab refinery by year-end

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line