Thomson Reuters Eikon to help energy professionals track the operational status of global oil refineries, predict supply and potential impacts on market prices with exclusive Genscape data
Thomson Reuters today announced the addition of unique oil refinery data to its flagship desktop, Thomson Reuters Eikon, through an exclusive agreement with Genscape, the market-leader in real-time oil refinery monitoring. The agreement will 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.
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 is 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. Genscape 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.
“Genscape’s real-time oil refinery monitoring service is second-to-none in the market and provides incredibly powerful insight when combined with the news, tools and analytics provided in Eikon,” said Leigh Henson, head of energy at Thomson Reuters. “The fact that Genscape acquires actual, not estimated, refinery operations data means energy professionals can absolutely rely on its accuracy to inform trading decisions. The addition of this data continues to build out Eikon as a comprehensive, one-stop desktop for energy markets.”
“We are delighted that Thomson Reuters chose Genscape to deliver this unique market intelligence,” said Chris Sternberg, managing director of oil for Genscape. “We invest heavily in acquiring the proprietary oil refinery data that gives energy traders the ability to gain a first-mover advantage or mitigate risk quickly.”
Thomson Reuters Eikon is designed to provide an intuitive, next-generation solution for consuming real-time and historical data, connecting with the financial markets community and executing financial markets transactions across asset classes such as foreign exchange (FX), fixed income, commodities, equities and derivatives. It realizes Thomson Reuters vision for a financial markets desktop that is intelligent, simple and social. Driven by powerful search engine technology, Eikon carries real-time data, news, charts, insightful commentary, analytics and trade execution tools through views that can be customized to individual user preferences and workflow.