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Wood Mackenzie Launches First-of-Its-Kind Refinery Intelligence Tool

·3 min read

Refinery I/O combines refinery analytics with proprietary operation monitoring

LONDON/HOUSTON/SINGAPORE, June 22, 2021 (GLOBE NEWSWIRE) -- Wood Mackenzie, a Verisk business (Nasdaq:VRSK), is now offering Refinery I/O, a new tool providing daily refinery analytics from proprietary data sets.

“Refinery I/O builds upon the best of Wood Mackenzie’s refinery offerings to create a unique product unparalleled by anything in the market today,” said Short-Term Oil Analytics and Forecasting Research Manager, Robert Bickhart. “The refinery-level granularity, daily frequency, and clean analytical output provides an unparalleled user experience.”

With access to crude and refined product input/output data, users no longer need to rely solely on in-house workflows to predict changes in the refinery market. They can also use Refinery I/O to calculate daily crude oil volume consumption and refined product output volumes from refineries in the US and Canada.

Intelligence tools and proprietary refinery signals come together in Refinery I/O to generate verifiable daily results for users who would traditionally be responsible for sourcing, calculating, and analyzing the data using internal company resources.

Devin Geoghegan, Vice President, Innovation, at Wood Mackenzie, said: “Refinery I/O offers an easily digestible, low-latency, API deliverable right to users’ workflow.

“With its operational efficiencies, not only does this product provide refinery-level granularity, which serves multiple client use cases, but it saves time analyzing internal processes.”

The new tool will deliver more than 1,020 data points to users every day via API, along with weekly summary reports and supplemental analysis on major events, such as weather incidents like hurricane season and Covid-19 developments, as they affect US and Canadian refineries. Companies can also download the data they need to inform trading decisions ahead of U.S. Energy Information Administration (EIA) and state regulatory data.

In highly volatile oil and gas markets, and with companies experiencing increasingly limited resources, Refinery I/O gives operators, traders, and equity investors the built-in functionality to support and streamline workflows.

ENDS


Find out more information about Refinery I/O and request a free demo here.

For further information, please contact:
Mary Deitsch
+1 929 504 7608
mary.deitsch@wooodmac.com

About Wood Mackenzie:
Wood Mackenzie, a Verisk Analytics business, is a trusted source of commercial intelligence for the natural resources sector. We empower clients to make better strategic decisions, providing objective analysis and advice on assets, companies and markets. For more information: www.woodmac.com or follow us on Twitter @WoodMackenzie

WOOD MACKENZIE is a trademark of Wood Mackenzie Limited and is the subject of trademark registrations and/or applications in the European Community, the USA and other countries around the world.

About Verisk:
Verisk (Nasdaq:VRSK) provides predictive analytics and decision support solutions to customers in the insurance, energy and specialized markets, and financial services industries. More than 70 percent of the FORTUNE 100 relies on the company’s advanced technologies to manage risks, make better decisions and improve operating efficiency. The company’s analytic solutions address insurance underwriting and claims, fraud, regulatory compliance, natural resources, catastrophes, economic forecasting, geopolitical risks, as well as environmental, social and governance (ESG) matters. Celebrating its 50th anniversary, the company continues to make the world better, safer and stronger, and fosters an inclusive and diverse culture where all team members feel they belong. With more than 100 offices in nearly 35 countries, Verisk consistently earns certification by Great Place to Work. For more: Verisk.com, LinkedIn, Twitter, Facebook and YouTube.