Game-changing data service – a decade in development – comes online precisely as traders demand greater transparency to hedge against supply disruptions.
The importance of the Forties oil system has been magnified as Europe contends with oil supply outages from Iran and the South Sudan, increased Forties demand from South Korea, and wide-ranging socio-political challenges.
Frequent last-minute cargo delays and production problems at the Forties – itself a complex network of over 70 offshore oil fields and 169 kilometers of pipeline – have exacerbated the need for greater transparency of Forties fundamentals: the primary price market for Brent (and global) crude oil.
Genscape’s Forties Real-Time Monitoring Service actually measures (not estimates) Forties production, processing, and shipping with a vast network of patented and proprietary oil infrastructure monitors.
“We’re aware of disruptions often times even before the operator."
– Abudi Zein, Senior Vice President of Oil
“Oil traders know the value of having access to the actuals, not estimates or algorithms or mathematical models, but true actual data obtained by in-the-field monitors,” says Abudi Zein, senior vice president for oil at Genscape. “Ten years ago, we launched an effort to innovate data collection of oil fundamentals. Our European offering couldn’t have launched at a better time.”
Genscape subscribers get half-hourly updates on flows to the on-shore portion of the Forties pipeline, tracks oceangoing supplied loaded at Hound Point, and measures storage at Dalmeny daily to get a complete and accurate picture of oil available for export. The pipeline flow data is calibrated against the UK Department of Energy and Climate Change (DECC) data. It is highly accurate and comes from every field located in the North Sea.
Genscape also tracks the operations of the fractionators at Kinneil and monitors the refinery at Grangemouth: all in real-time with subscribers sent automated email or instant message alerts to any disruptions. “We’re aware of disruptions often times even before the operator,” adds Zein.
“The accuracy of our data stems directly from our approach to measure, not estimate, market fundamentals using state-of-the-art technology,” says David Francoeur, chief marketing officer at Genscape. “It’s the difference between knowing and guessing. It’s a light bulb in a dark room.”
To help prove the value of this unique Forties monitoring service, Genscape is offering a free two week trial. Apply for your free trial and see for yourself how Genscape’s real-time Forties monitoring can help optimize your positions, reduce your risks – and gain a first-mover advantage.
“Our mission is to increase transparency in global energy markets with a price-to-value model that accelerates market acceptance and reinvestment into basic research and development,” adds Francoeur.
Register at right to try before you buy. Or just give us a call for an expert demo.
Tel: +31 20 524 4080