The Intellectual Property & Science business of Thomson Reuters, US, has announced the addition of oil refinery data to Thomson Reuters Eikon, its desktop product for financial traders, through an exclusive agreement with Genscape. The agreement will purportedly enable Thomson Reuters Eikon customers to gain significant insight to global oil markets by tracking the operational status and output of global oil refineries to predict supply and potential impacts on market prices. Genscape is stated to be the market leader in real-time oil refinery monitoring.
The oil refineries market has recently undergone a significant reorientation, with emphasis moving away from the traditional strongholds of Europe and North America to other regions of the world. Weather patterns, outages and shut-downs all have an immediate impact on market prices, making time of the essence in learning about refinery disruptions.
Thomson Reuters Eikon claims to be a powerful solution for energy professionals, providing exclusive data, market moving news and unique analytical tools. With the addition of the Genscape data, Eikon will now also provide real-time alerts for refinery disruptions, outages, start-ups and shut-downs on a global basis, giving energy professionals up-to-the minute insight into global oil production.
Founded in 2000 by former energy traders, Genscape maintains a vast network of thousands of high-tech energy monitors to produce highly accurate, real-time measurements of fundamental energy data. It does not rely on surveys, estimates or news to report its proprietary data, but rather uses thermal imaging in conjunction with expert analysis and other patented technologies to track the operational status of refineries.
