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As Published In Petroleum Review From Annual IPWeek Event In London
By Kim Jackson
Exhibiting at this year's annual IPWeek in London, OILspace is a leading global provider of advanced real-time web services applications and integration for oil, gas and petrochemical trading, marketing and supply operations. Christopher Sternberg, SVP of Global Sales & Marketing, explained that the company's supply chain solutions now run through nine of the world's 10 largest oil companies and serve nearly 300 clients of all sizes and roles within the energy supply chain.
Russia has been a particular area of focus over the past 18 months, with the company developing customized supply chain and logistics solutions for both Lukoil and TNK-BP in a bid to improve margins and profits. Indeed, industry estimates that such solutions can offer between 20-70 cents/barrel cost savings in the supply chain.
China will be the next focus of attention, according to Sternberg, as it is a vast market with similar challenges to those found in Russia - with the various control elements of the supply chain, from field to export terminal, widely distributed. As a first step, OILspace has established a new development centre at Shanghai, China, and launched a localized Chinese language website to support its customers. The company also plans to develop its business in the burgeoning market of India. Europe and the Middle East, too, are reported to have shown interest in supply chain solutions available, as infrastructure is widespread and the need to connect business assets globally without deploying costly data centers, hardware and staff to support them is necessary, reports Sternberg.
Also new for 2005 will be the development of a shipping marketplace that will allow BP to electronically communicate with the international bunker community.
This article appeared in the Petroleum Review, published by The Energy Institute.
OILspace US/ Canada
Brigette Gebhard
bgebhard@oilspace.com
+1 732 797 0046
EMEA PR Agency
Kevin Fiske
kevin@sagepartnership.com
+44 1189 344007
OILspace Asia-PAC
Kishor Sujanani
ksujanani@oilspace.com
+86 21 6122 1075 |
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