The management and monitoring of global oil inventories and storage levels has reached new heights after the launch of TankWatch, a new monitoring service that sources its data from satellites.
The intelligence source provides oil traders and analysts with precise, near real-time insight into oil tank storage at any location worldwide, enabling better price risk management options and greater decision-making capabilities. It also allows users to monitor sites to identify expansion or contraction needs.
TankWatch uniquely combines cloud-penetrating radar imagery together with other very high-resolution satellite gathered information to ensure that the required data is captured, regardless of weather and visibility conditions. This combination of satellite and aerial data ensures that the programme is able to deliver the most accurate oil inventory analytics in the world.
It uses image recognition and spectral profiling combined with rapid data processing to report on critical global oil storage terminal locations and provide unparalleled and time-sensitive insight into global oil inventories and storage levels.
TankWatch is the product of Geospatial Insight Limited, Europe’s leading provider of satellite-derived alternative data, independent research and image analysis.
Driven by the recognition that official reported data from the energy sector was not always robust or comprehensive, Geospatial Insight found that accurate and up-to-date Information regarding oil storage levels, particularly in some locations, was very difficult to source. In many cases it has been impossible to obtain for some countries and regions and when available, then often only at an aggregated level.
TankWatch enables oil sector professionals to benefit from a more granular and reliable level of insight into current oil inventory levels, thereby gaining an understanding of the global trade balances of the physical oil market, with resultant advantage for corporate strategy and planning, fundamental analysis, trading and investing. Critically, TankWatch provides storage level data for each site within 24 hours of satellite image acquisition, ensuring that subscribers benefit from first-to-market advantage.
Dave Fox, CEO of Geospatial Insight, commented: “The completion of Geospatial Insight’s Series A fund raising last year has enabled us to invest significantly and thoughtfully in new satellite based intelligence and information sources for our global client base. TankWatch is the first of these to come to market and
we are proud to be able to offer what we believe is the very best in class oil storage information source, providing the most accurate, transparent and reliable oil storage intelligence, and ultimately value to our clients.”
For more information visit www.geospatial-insight.com
23rd Feb 2018