Digitizing the Oil Barrel
9% of cross-border global oil shipments gets disputed
50% of back-office costs are spent on documentation and information exchange
$1 bn annual potential savings in G&A expenses
Industry Opportunity
Information exchange in the oil industry today is largely manual, with redundancies in regulatory reporting. Analysis of origins and traceability of flows is susceptible to errors, miscommunication and misrepresentation. The standard today is for each participant in the value chain independently maintaining status information siloed in multiple systems, exchanging information through point to point communications, resulting in a complete lack of an end to end view.
Trusted Data Exchange for Oil
Neoflow is a platform accessible by industry, border control agencies and relevant government entities. Neoflow tracks key value chain events, while digitizing relevant documentation such as Bills of Lading and Certificates of Origin.
Provable product traceability- Faster custom clearance
- Proof of origination
Key Features
Immutable tracking of events and interactions
End-to-end visibility of the products’ lifecycle, from wellhead production, to upgrading, inspection, transportation import and refinement.
Digitized regulatory reporting and border clearance process
Import and regulatory reporting processes are automated, by providing a common and standard framework for data exchange.
Trusted digital history
Standardized production record, updated in real-time that establishes a trusted digital history of ownership, records and lifecycle of events
