OilX
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OilX is an oil data analytics and oil market intelligence company headquartered in London, United Kingdom with offices in Athens, Greece and Vienna, Austria.[1][2]
The company’s founder and CEO, Florian Thaler, is a former oil analyst and current member of the World Council's Future Energy Leaders programme (FEL-100).[3] OilX was created to provide oil traders and oil analysts working for oil majors, refineries, integrated oil companies, hedge funds, trading houses and investment banks with market data and analysis for input on the global oil market. The company was founded in 2018 with the support of Signal Ocean, a maritime technology company part of The Signal Group, a key investor and technology partner of Oil.[4]
OilX released the OilX Platform in 2019, a Software-as-a-Service[3] platform that provides clients with real-time visualization of the global crude oil market and oil fundamentals data.[4] This includes the global oil supply-demand balance, cargo flow monitoring, inventories, refining activity, and other data. OilX's technology is based on a combination of artificial intelligence (AI),[5] satellite tracking and earth observation data, shipping data, and reports from various official organizations, including customs data, JODI, and statistics agencies such as EIA and IEA. In 2020, OilX announced that it had raised $2.2 million in funding from Citi and South Korea's GS Caltex.[6][7] In 2022, OilX expanded its offering to include biofuels. OilX partnered with ZE PowerGroup Inc.[8] to adopt its data management and analytics services in March, 2022. In February 2023, OilX was acquired by Energy Aspects, an energy research consultancy.[9][10]
The company works in close collaboration with the European Space Agency (ESA),[11][12] utilizing data collected from satellites to monitor fluctuations in global oil production with the objective of creating transparency in the oil market. In June 2022, the zero-Covid policy and China's closures, put pressure on the movement of oil demand and had an impact on the world oil market, according to OilX.[13] OilX also provides satellite data on European crude oil storage data to the 'Rapid Action Coronavirus Earth Observation' (RACE) dashboard of ESA and the European Commission on COVID-19 and earth observation,[14] as an indicator of the health of the global oil market.
OilX is, additionally, an independent research provider member of Euro IRP, the European Association of Independent Research Providers.[15] The company is also a member of the World Energy Council Austria.[16]
References[edit]
- ↑ Walsh, Sue (2019-01-23). "OilX Launches AI-Powered Oil Trading Analytics Platform". RTInsights. Retrieved 2021-07-14.
- ↑ "OilX: Londoner SpaceTech und Erdöl-Analyse-Startup kommt nach Wien". brutkasten (in Deutsch). 2022-03-30. Retrieved 2022-04-29.
- ↑ "FEL-100: A Platform for new successful start-ups". World Energy Council. Retrieved 2022-11-29.
- ↑ 4.0 4.1 Mouratidis, Yiannis. "How AI Could Make The Life Of Oil Traders Easier". Forbes. Retrieved 2022-11-29.
- ↑ "Artificial Intelligence Is Transforming Oil Trade". OilPrice.com. Retrieved 2022-11-29.
- ↑ Μπελεγρινης, Γιαννης (2020-05-28). "Η "startup πετρελαίου" που κατάφερε να "σηκώσει" 2,2 εκατ. δολάρια και να επεκτείνει τις ομάδες της στην εποχή του Covid-19". It's Possible (in Ελληνικά). Retrieved 2021-07-14.
- ↑ "London-based OilX raises $2.2 million to analyse supply and demand of the global oil market". Tech.eu. 2020-02-24. Retrieved 2022-11-29.
- ↑ ZE (2022-03-30). "ZE PowerGroup Partners With OilX to Promote Global Real-Time Oil Data Analytics". Data Automation and Integration | ZEMA | ZE PowerGroup Inc. Retrieved 2022-11-29.
- ↑ Berrill (p_berrill), Paul (2023-02-01). "Signal Group start-ups incubator sells its first offshoot venture". TradeWinds | Latest shipping and maritime news. Retrieved 2023-02-03.
- ↑ "Τεχνητή νοημοσύνη: Η Energy Aspects εξαγόρασε τη νεοφυή OilX". www.naftemporiki.gr (in Ελληνικά). 2023-02-01. Retrieved 2023-02-03.
- ↑ "OTAM | ESA Business Applications". business.esa.int. Retrieved 2022-11-29.
- ↑ "OilX – Providing fast, transparent data on the oil supply chain | ESA Business Applications". business.esa.int. Retrieved 2022-11-29.
- ↑ "فلوريان ثالر: الصين لاعب كبير ومتحكم في أسعار النفط عالميا". Now الشرق (in العربية). Retrieved 2022-11-29.
- ↑ "Satellites map the global flow of oil". www.esa.int. Retrieved 2022-11-29.
- ↑ worldflow (2016-09-02). "Directory". Euro IRP. Retrieved 2022-11-29.
- ↑ "Members". World Energy Council Austria. Retrieved 2022-12-15.
Further reading[edit]
Imsirovic, Abi (2021). Trading and Price Discovery for Crude Oils: Growth and Development of International Oil Markets. ISBN-13: 978-3030717179.
External links[edit]
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