Creating digital trust between independent producers, corporate consumers, traders and sovereign purchasers through the entire supply chain, from price discovery and trading, all the way through to scheduling and tracking logistics, back-office settlements and payments, minimizing transaction backlogs and reducing overall costs. Reconciliation and tracking is streamlined among all services related to the trade lifecycle, with significant improvements in managing settlements and logistics across the supply chain.
OilEx Platform
OilEx is a blockchain-based modular software platform for hydrocarbons, creating transparency and trust between buyers and sellers through the entire supply chain, from production through sale and delivery. The OilEx platform is designed to relieve both producers and purchasers from the historical analogue transaction burden by providing a digital pathway underpinned by secure document handling, providing for straight-through back-office settlements and payments.
The platform enables the facilitation of physical oil transactions, with greater efficiency throughout the trade lifecycle, more favourable economics for producers, and access to a fair market for all.
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SECURE
Trusted Marketplace
Access a broader market of verified network of buyers and sellers to grow your business.
SIMPLE
Save Time
Get peace of mind managing your deal workflow process in one easy to use workspace.
SMARTER
Digital Management
Smart matching algorithm and automated workflow solutions improve deal success.
OilEx Modules
The platform is structured into four functional modules: Marketplace, Identity, Transactions, and Settlement. Each module will include core features to satisfy customer needs.
A new paradigm of deal discovery facilitating physical oil transactions with greater efficiency throughout the trade lifecycle.
Market Access & Deal Discovery
MARKETPLACE
Deal Discovery
Supported by interactive maps showing market supply to systematically identify transaction opportunities.
Request for Quote function
Supporting buyers to efficiently aggregate distributed smaller suppliers into single transaction tickets.
Smart Matching
Powered by an algorithmic recommendation engine to reduce time and effort to find suitable trade counterparties.
Digital trade execution with a focus on security and efficiency with integrated and encrypted workflow solutions.
Streamlined & Secure
TRANSACTIONS
Transaction Management
Structured transactions workflow simplifying deal closing and execution along a controlled process chain including audit trail.
Messaging
Encrypted message exchange between producer and buyer to negotiate a transaction and exchange deal documents.
Documents
Digital document safekeeping for each transaction keeping all relevant records and papers organized and available.
Creating a trust network based on secure identity management and ratings system.
Digital Trust & Privacy
IDENTITY
Onboarding & KYC
Strict KYC ensures a trust basis between counterparties
Profiles
Data rich profiles featuring secure identity management and production profiles.
Ratings
Benchmarking and performance metrics building trust across all transactional touchpoints.
Full transparency of transaction execution status, delivery tracking and reporting solutions.
Tracking & Reporting
SETTLEMENT
Payments
Real-time payment status and monitoring
Delivery Tracking
Delivery status update tracking with full exception management
Reporting
Automated production and availability of reports to support efficient compliance with recordkeeping and disclosure requirements.
Supply Chain Intelligence
Full lifecycle reporting of the crude oil supply chain from oil reserves through wellhead production, storage, transhipment and end consumption.
Providing sovereigns, government ministries, auditors, inspectors and other strategic interests with immutable data intelligence for tracking hydrocarbons produced from within sovereign territory.
Intelligent
Tracking physical oil throughout the supply chain and automating the reporting process.
Efficient
Streamlining reporting and communication between governments and businesses.
Digital
Digitalizing physical goods and assets to provide better supply chain management and audit.
Roadmap
Focused on building the network and transaction processing in 2021
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