OilEx is a digital marketplace connecting independent oil producers with global buyers. It provides a complete digital workflow for physical crude oil trade: from deal discovery to negotiation, contracts and settlement.
Sell crude oil on OilEx in an open and fair marketplace to existing and new buyers. Market your product faster, discover better prices and vastly reduce manual transaction overhead.
Rely on verified profiles and ratings of sellers on OilEx to find the right partners. Fill offtake needs quickly and efficiently by requesting market quotes and aggregating smaller producers in one ticket.
Uncover strategic trading opportunities with a visual market overview on interactive maps. OilEx enables electronic trading of physical oil: find professional counterparties, negotiate digitally, close deals fast.
Connect, negotiate terms, and proceed to close a deal in one singular view
OilEx sees an efficient digital process as one that is controlled by you, not the system. Deal Actions enrich your conversation with suggested steps or checkpoints along the deal: asking, informing and reviewing what's happening and what's happened.
deal view combines the flexibility of a chat, a dashboard, and a custom set of actions enabling successful trades.
Accept proposed price
Confirm price to Jim. Proceed to finilizing the deal.
Price accepted at 14:06 on Monday, 26th of Apr.
Structured. An action represents a possible step in negotiation and settlement, providing structure for a deal.
Certain. Latest status of actions are displayed for all parties and changes are immediately reflected.
Sign the deal
Confirm you have a copy of all signed documents. Removes listing from the marketplace.
The deal mutually signed at 16:30 on Wednesday, 28th of Apr.
Mark as delivered
Notify Jim that your product arrived, and wait for Jim’s confirmation.
Confirmed by Jim at 17:50 on Saturday, 1st of May.
Contextual. Actions understand the context and responsibilities of the trading parties.
Flexible. Actions adapt to the type of product, deal terms and available financing.
Request early payment
Request early payment from the supply chain finance provider.
Early invoice payment approved by supply chain finance provider.
Confirm you have received payment.
Final payment received at 11:43 on Monday, 17th of May.
Accountable. All actions recorded and stored securely in deal ledger.
Flexible and Extendable
Each deal is different. Deal Actions are built to adapt, evolve and grow based on new commodity types, scenarios, geographies and business practices.
Use recommended gathering point to reduce delivery costs.
Nominate the ship
Charles Eddie, Panama
Ready at 8:00 on Tuesday, 21st of Aug 2021.
Loading in progress
Loaded to 83%
Loading expect to finish by Monday, 26th of Apr.
Blending to finish at 11:00 on Monday, 21th of Dec.
Send a document for preview, request a signature, or return a signed copy.
Arabian Light, Pure
Provenance audit at 14:06 on Friday, 25th of Aug.
3.8M will be paid. The deal will be marked as finished after confirmation.
Aggregation matched. Approve blending to increase transaction yield by 2.3%.
Charles Eddie, Panama
Loading finished at 15:00 on Thursday, 28th of Apr.
59kg / barrel
1.16 MT will be offset making this transaction CO2 neutral.
Confirm the requested documents review and progress to sign the deal.
Sign smart contract
Use your private key to verify the smart digital contract.
Supply Chain Finance
In a historic time of change for the industry, alternative and innovative forms of financing will support the operational expenditure and investment needs for hydrocarbon producers and purchasers. Together with international fintech firms and financial institutions, we are piloting streamlined trade and supply chain financing for crude oil producers and traders.
We are entering a period of energy transition and the rising importance of scope-3 emissions tracking for organizations across their complete product value chain. There is an opportunity in responsible production and better transparency. We work with our partners to develop effective rating systems for the environmental impact of oil production such as carbon footprints.