OilX

OilX is an oil data analytics and oil market intelligence company[1][2][3] headquartered in London, United Kingdom with offices in Athens, Greece[4] and Vienna, Austria[5].

The company’s founder, Florian Thaler, is a former oil analyst and "three-year member of World Council's Future Energy Leaders programme (FEL-100)"[6]. OilX was created to specialize and excel in providing oil traders and oil analysts who work for oil majors, refineries, integrated oil companies, hedge funds, trading houses and investment banks with key market data and analysis to help them navigate through the volatile global oil market[7]. The company was found in 2018 with the support of Signal Ocean, a maritime technology company part of The Signal Group, which is as a key investor and technology partner of OilX.[8]

OilX released the OilX Platform in 2019, a Software-as-a-Service platform that provides clients with a real-time visualization of the global crude oil market and oil fundamentals data. This includes the global oil supply-demand balance, cargo flow monitoring, inventories,[9][1], refining activity and other data.[10][7][11][12]. OilX's technology is based on a combination of artificial intelligence (AI), satellite tracking and earth observation data[13][14], shipping data and reports from various official organizations, including customs data, JODI, and statistics agencies such as EIA and IEA[15][16]. In 2020, OilX announced that it had raised $2.2 million in funding from Citi and South Korea's GS Caltex.[17][4] In 2021, OilX was among thirty two artificial intelligence companies selected to participate at Tech Nation's Applied AI program[18]. In 2022, OilX expanded its offering to include biofuels[19][20].

The company works in close collaboration with the European Space Agency (ESA) utilizing data collected from satellites to monitor fluctuations in global oil production with the objective to create transparency in the oil market.[21][22][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, as an indicator of the health of the global oil market.[23]

The company's oil market data and analysis around major industry developments is frequently cited in major media outlets such as Bloomberg[24][25], CNN[14], The New York Times [26], Financial Times[27][28][29][30], The Wall Street Journal[31], Reuters[32][33], and BBC[34].

OilX is also an independent research provider member of Euro IRP, the European Association of Independent Research Providers.[35]

## Contents

* 1 Awards
* 2 External links
* 3 Further reading
* 4 References

## Awards

OilX has been recognized with a number of industry awards including:

* 2022 EnergyRisk Commodity Rankings - Research in Oil[36] [37]
* 2022 EnergyRisk Commodity Rankings - Research in Asian Commodities[36][37]
* 2021 Energy Risk Commodity Ranking for Research in Oil[38]
* 2020 Petroleum Economist Award for Energy Advisory of the Year[39]
* 2020 Energy Risk Data & Analytics House of the Year[40]
* 2020 Frost & Sullivan Global Product Leadership Award[41]

The company was also a finalist for the 2022 Tank Storage Award for Innovative Technology.[42]

## External links

Official website

## Further reading

Imsirovic, Abi (2021). Trading and Price Discovery for Crude Oils: Growth and Development of International Oil Markets. ISBN-13: 978-3030717179.

## References

1. ↑ 1.0 1.1 "U.S. Oil Production Slumps by Record 40% as Permian Freezes". February 16, 2021. https://www.bloomberg.com/news/articles/2021-02-16/u-s-oil-production-has-plunged-by-a-third-amid-deep-freeze.
2. ↑ Evans, Damon (2021-05-06). "Outlook for Chinese oil imports remains bullish - News for the Energy Sector" (in en-US). https://www.energyvoice.com/oilandgas/320614/outlook-for-chinese-oil-imports-remains-bullish/.
3. ↑ Walsh, Sue (2019-01-23). "OilX Launches AI-Powered Oil Trading Analytics Platform" (in en-US). https://www.rtinsights.com/oilx-launches-ai-powered-oil-trading-analytics-platform/.
4. ↑ 4.0 4.1 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" (in el). https://www.itspossible.gr/η-startup-πετρελαίου-που-κατάφερε-να-σηκώ/.
5. ↑ "OilX: Londoner SpaceTech und Erdöl-Analyse-Startup kommt nach Wien |" (in de). 2022-03-30. https://brutkasten.com/oilx-londoner-spacetech-kommt-nach-wien/.
6. ↑ "FEL-100: A Platform for new successful start-ups" (in en). https://www.worldenergy.org/news-views/entry/fel-100-a-platform-for-new-successful-start-ups.
7. ↑ 7.0 7.1 "Next big thing: Oiltech | PitchBook" (in en). https://pitchbook.com/news/articles/next-big-thing-oiltech.
8. ↑ "Exclusive interview: OilX CEO and co-founder Florian Thaler" (in en). https://hcinsider.global/exclusive-interview-oilx-ceo-and-co-founder-florian-thaler/.
9. ↑ Lee, Jinjoo (2021-04-01). "OPEC+ Caution Comes at a Cost" (in en-US). Wall Street Journal. ISSN 0099-9660. https://www.wsj.com/articles/opec-caution-comes-at-a-cost-11617311791.
10. ↑ "Artificial Intelligence Is Transforming Oil Trade" (in en). https://oilprice.com/Energy/Energy-General/Robots-Take-Over-Oil-Trade-And-OPEC-Is-Scared-To-Death.html.
11. ↑ Arguelles, Juan Carlos Rodriguez (2020-11-10). "Renewable Energy Technologies Are Impacting the Oil and Gas Future" (in en-US). https://www.energyvoice.com/technology/270586/renewable-energy-technology/.
12. ↑ (in en) OilX - the world's first digital oil analyst, https://www.youtube.com/watch?v=uUgPuAi0tl0, retrieved 2021-07-14
13. ↑ 13.0 13.1 "OilX – Providing fast, transparent data on the oil supply chain | ESA Business Applications". https://business.esa.int/news/oilx-–-providing-fast-transparent-data-oil-supply-chain.
14. ↑ 14.0 14.1 Business, Analysis by Julia Horowitz, CNN. "Analysis: Russia needs to sell oil. It's running out of options". https://www.cnn.com/2022/05/09/business/europe-g7-russia-oil-embargo/index.html.
15. ↑ "Driving Sustainability (Startup Spotlight: OILX) | SAP Blogs". https://blogs.sap.com/2022/01/21/driving-sustainability-startup-spotlight-oilx/.
16. ↑ Mouratidis, Yiannis. "How AI Could Make The Life Of Oil Traders Easier" (in en). https://www.forbes.com/sites/yiannismouratidis/2019/04/10/how-ai-could-make-the-life-of-oil-traders-easier/.
17. ↑ "London-based OilX raises $2.2 million to analyse supply and demand of the global oil market" (in en-GB). 24 February 2020. https://tech.eu/brief/oilx-2-million/.
18. ↑ "Introducing: the 32 companies joining the Applied AI programme in 2021" (in en). 2021-09-22. https://technation.io/news/companies-applied-ai-programme-2021/.
19. ↑ "OilX – New Biofuels Platform by OilX" (in en). https://www.oilx.co/news/new-biofuels-platform-by-oilx.
20. ↑ "ZE PowerGroup Partners With OilX to Promote Global Real-Time Oil Data Analytics" (in en-US). 2022-03-30. https://www.ze.com/ze-powergroup-partners-with-oilx-to-promote-global-real-time-oil-data-analytics/.
21. ↑ "OTAM - Oil Trading Analytics Monitor | ESA Business Applications". https://business.esa.int/projects/otam.
22. ↑ "Satellites map the global flow of oil" (in en). https://www.esa.int/Applications/Telecommunications_Integrated_Applications/Satellites_map_the_global_flow_of_oil.
23. ↑ "Rapid Action on coronavirus and EO" (in en). https://race.esa.int/?poi=EU1-OX.
24. ↑ "The Oil Price Rally Is Bad. The Diesel Crisis Is Far Worse" (in en). Bloomberg.com. 2022-03-14. https://www.bloomberg.com/opinion/articles/2022-03-14/ukraine-war-the-oil-price-rally-is-bad-the-diesel-crisis-is-far-worse.
25. ↑ News, Bloomberg (2021-06-10). "Oil gains with rising inflation boosting appeal of commodities - BNN Bloomberg". https://www.bnnbloomberg.ca/oil-edges-higher-with-structure-strengthening-inflation-rising-1.1615004.
26. ↑ Reed, Stanley; Eddy, Melissa; Novak, Benjamin (2022-05-03). "Europe Is About to Ban Russian Oil: What’s Next?" (in en-US). The New York Times. ISSN 0362-4331. https://www.nytimes.com/2022/05/03/business/eu-oil-ban-russia-ukraine.html.
27. ↑ "Tankers of Russian oil a prime target for western sanctions". Financial Times. 2022-04-28. https://www.ft.com/content/a203383e-dbb2-4274-a45f-4815340e368b.
28. ↑ "Major Russian pipeline fully halts oil exports, sending crude prices higher". Financial Times. 2022-03-23. https://www.ft.com/content/9d6fe3e6-597f-4089-a553-3f8a0edc18e8.
29. ↑ "Mexico’s opposition pushes back on rules to fast-track public projects". Financial Times. 2021-11-23. https://www.ft.com/content/850c8c66-907a-4919-ba3b-c74a3babcb4c.
30. ↑ "Energy shock shows need to rethink green transition, Aramco chief says". Financial Times. 2022-05-23. https://www.ft.com/content/f8cc1070-abbe-4489-9c4d-1569eb836195.
31. ↑ Lee, Jinjoo (2022-03-31). "U.S. Oil Release Could Have Been More Strategic" (in en-US). Wall Street Journal. ISSN 0099-9660. https://www.wsj.com/articles/u-s-oil-release-could-have-been-more-strategic-11648748499.
32. ↑ Edwards, Rowena; Lawler, Alex (2022-03-23). "North Sea crude oil trade drops on refining needs, sources say" (in en). Reuters. https://www.reuters.com/business/energy/north-sea-crude-oil-trade-drops-refining-needs-sources-say-2022-03-23/.
33. ↑ Aizhu, Chen; Lawler, Alex (2022-03-02). "China buys more Iranian oil now than it did before sanctions, data shows" (in en). Reuters. https://www.reuters.com/world/china/china-buys-more-iranian-oil-now-than-it-did-before-sanctions-data-shows-2022-03-01/.
34. ↑ "Diesel delivery highlights UK dependence on Russia" (in en-GB). BBC News. 2022-04-02. https://www.bbc.com/news/business-60948439.
35. ↑ worldflow (2016-09-02). "Directory" (in en-US). https://euroirp.com/directory/.
36. ↑ 36.0 36.1 "Energy Risk Commodity Rankings: banks and brokers battle extreme volatility" (in en). 2022-04-27. https://www.risk.net/node/7941526.
37. ↑ 37.0 37.1 "Download media success" (in en). https://www.risk.net/media/download/1079426.
38. ↑ "Energy Risk Commodity Rankings: firms provide a lifeline in choppy waters" (in en). 2021-04-26. https://www.risk.net/node/7824721.
39. ↑ "Awards Home". https://www.pemedianetwork.com/awards/home.
40. ↑ "Data & Analytics House of the Year, Asia: OilX" (in en). 2020-11-26. https://www.risk.net/node/7716031.
41. ↑ "OilX Applauded by Frost & Sullivan for Emerging the World's First Digital Oil Analyst" (in en-US). 2020-10-07. https://ww2.frost.com/news/press-releases/oilx-applauded-by-frost-sullivan-for-emerging-the-worlds-first-digital-oil-analyst/.
42. ↑ EasyFairs. "Shortlist | Global Tank Storage Awards 2022" (in en). https://tankstorageawards.com/live/en/page/shortlist.

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