Driving Sustainability (Startup Spotlight: OILX)

Established in 2018, OilX combines advanced data science and satellite technology with extensive oil analytics knowledge to create the first digital oil analytics platform. OilX has more than 15 years of oil analytics experience across oil majors, investment banks, and hedge funds.

To tell us more about OILX and how they are driving sustainability we have Florian Thaler who is the founder of OILX.

What problem is OilX trying to solve?

Most oil trading organizations are replicating the same basic oil analytics tasks, such as cargo tracking, refinery turnaround monitoring, and supply-demand balances. Much of this analysis underpins strategic trading decisions, yet is resource heavy and based on disparate or largely historical data sources.

How are you addressing this problem?

Using Satellite data and the latest AI technology, we offer the world’s first real-time crude oil supply and demand balance. Our data science framework empowers traders and analysts by providing real-time actionable insights based on decades of oil trading expertise and deep market knowledge

How do you differentiate yourself?

We leverage satellite data, the latest AI technology, and data science frameworks to offer the world’s first real-time crude oil supply and balance. Using our proprietary OilX Platform and extensive datasets including satellite imagery, ship tracking, and 100s of specialist data sources our teams are able to answer the toughest questions, with decision-supporting data and deep market knowledge. OilX Research provides oil traders and analysts with indispensable market analysis, key trends, and main outliers. OilX displays its assessments well ahead of official data releases and relative to consensus estimates to help you navigate markets with confidence

How does your partnership with SAP help in driving sustainability?

Our technology integrates with SAP and helps customers with the procurement of raw materials (crude oil, refined products), inventory management, and optimization of sales.

For further information on sustainability, you can refer to the Sustainability topic page. If you have any questions, you can post them in the community.

Call to action: To learn more about the startups and how they are partnering with SAP to drive sustainability, join us at our SAP.iO Sustainability in Energy and Natural Resources Demo Day on January 27 – Register here 🎉

Check out the rest of our series

Sustainability Blog series here.