Refinery I/O is a new digital solution specialized for refinery operators, that provides daily analytics from proprietary data sets; developed by Wood Makenzie, leader in the digitalization and intelligence for the energy sector.
Firstly, the solution developed by the company is the first of its kind, and pretends to offer deep insights upon the operations of a refinery; including data analysis and predictability.
Secondly, the solutions grants access to crude and refined product input/output data; so that users no longer need to rely solely on in-house workflows to predict changes in the refinery market.
Thirdly, Refinery I/O is also useful to calculate daily crude oil volume consumption; and also refined product output volumes, from refineries in the US and Canada.
Indeed, the solution brings together intelligence tools and proprietary refinery signals; to generate verifiable daily results for users who would traditionally be responsible for sourcing; also, calculating, and analyzing the data using internal company resources.
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Refinery I/O also shares trading info, ahead of the EIA
Moreover, the tool can deliver more than 1,020 data points to users every day via API; along with weekly summary reports and supplemental analysis on major events. For example, weather incidents like hurricane season and Covid-19 developments; as they affect US and Canadian refineries.
In addition, users of the tool can also download the data they need to inform trading decisions ahead of U.S. Energy Information Administration (EIA) and state regulatory data. Which is a huge asset in the highly volatile oil and gas markets.
Furthermore, Robert Bickhart, Short-Term Oil Analytics and Forecasting Research Manager for Wood Makenzie, said about the project. “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.”
He also remarked. “The refinery-level granularity, daily frequency, and clean analytical output provides an unparalleled user experience.” On the other hand, Devin Geoghegan, Vice President, Innovation, at Wood Mackenzie, said. “Our solution offers an easily digestible, low-latency, API deliverable right to users’ workflow.”
Finally, he also highlighted. “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.”