DataGenic Ltd, the leading global provider of on premise and in-cloud Smart Commodity Data Management solutions and S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets, are pleased to announce an extension to their existing partnership agreement for the provision and distribution of UAE's Fujairah Weekly Oil Inventory Data.
Fujairah Oil Industry Zone, which hosts the Middle East's largest commercial storage capacity for refined products, recently signed an agreement with S&P Global Platts to advance the Emirate's progression towards becoming one of the world's leading energy trading hubs. DataGenic is now part of that advancement program that allows both existing S&P Global Platts clients and new customers to consume the data via DataGenic.
Richard Quigley, CEO of DataGenic commented “As a long-term distribution channel partner of S&P Global Platts, we are delighted to enhance our offering to include the distribution of this valuable data source. Furthermore, it is exciting to be part of the strategic growth of this hub, that will elevate Fujairah as a top tier energy trading hub alongside Singapore, Rotterdam and Houston”.
Stuart Wood, Head of Global Product Development, S&P Global Platts said: “As Fujairah develops into a global trading hub, expanding the availability of the Fujairah Oil Industry Zone inventory data to a global audience is an important component of broadening the understanding of oil products flows in the region.”
Note to the Editor: Fujairah sits at the heart of the new energy corridor that stretches from the East of the Suez Canal to Asia and has a vast array of capabilities, including oil transmission pipeline connectivity with Abu Dhabi, vast oil storage facilities, supporting utilities infrastructure, and a deep water port. Since September 2016, the Port is also home to the first very large crude carrier (VLCC) jetty on the Indian Ocean. The number of financial centers in the region has also grown, with the majority of banks, private and national oil companies and commodity trading houses engaging in local activities. Visit S&P Global Platts dedicated website page to access Fujairah's weekly oil inventory data alongside details of methodology.