Pricing tools and their applications

Pricing tools are vendor hosted online applications such as
PAWS, GlobalView, Bloomberg, Reuters, etc.

Pricing tools form a one-stop solution that provide users in the Oil and Gas Industry with rich information pertaining to all aspects of the industry through a single application.

Owing to the volume of daily physical and paper transactions in the Oil and gas market, it becomes quintessential to remain connected and be vigilant of the market dynamics minute by minute in order to proactively respond to the rapidly changing market environment.

In order to carry out the business effectively, it becomes essential to acquire real-time data from diversified sources such as data from Stock Exchanges (such as NYMEX, Dubai Mercantile exchange, ICE Europe), Fundamental data from trade associations and government organizations, Spot market data, published information from brokers and NEWS agencies.

Pricing Tool Application

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Features of an effective pricing tool

  • Provide real time NEWS and market alerts which allow comparison of pricing data sets, provide trend analysis, forecasting, sensitivity and technical analysis of impact on refining margins and prices by product
  • Provides benchmark price assessments, intra-day indicators, short and long term forward curves from actual transactions and modeled values
  • Provide extensive list of newsletters, reports and geo-spatial data to cover every aspect of Oil & Gas industry
  • Provides a simultaneous multi-user environment
  • Analyze oil markets, assess impacts of macroeconomics, geopolitics, trading patterns and price structures.

Advantages witnessed with the usage of pricing tools

  • Allow users to forecast forward price movements and recommend trading strategies to manage price risk and optimize refinery margins.
  • Save many man hours and have more reliable and accurate data within the system which gives more time to ponder the next move in the spot price for hedging.
  • Aids users in analyzing the markets and decide on the best time to implement different hedging strategies by viewing the current spot market for certain commodities in a live environment and also having access to historical trends and analytic tools.
  • Provide accurate data quickly through a flexible, customizable interface, helping users avoid costly errors and delays.
"Pricing tools connect the users with information on both Forecasted prices (Ex. IHS, Argus price assessments, Platts forward curve, etc.) and also actual daily quotes on crude and product based on the previous day settled transaction details. "

This information will go as a
valuable input to:

  • Production Planning group to arrive at the right set of price quotes to calculate forecasted crude and product prices to yield the most optimal production plan using LP tools that maximizes refinery profit
  • Crude Procurement group to arrive at the right set of price quotes to calculate forecasted prices for the acceptable crude basket which eventually leads to the best-fit crude selection for the refineries
  • Refinery economics group to arrive at the right set of price quotes to calculate forecasted crude and product prices to carry out various “Buy-Sell-Make” kind of decisions for future commitments
  • Pricing-Analysis group to be informed of the right set of actually traded price quotes to calculate crude and product prices and to gauge the deviation of actual refinery-wide feed cost and product prices from the market behavior in the region
Pricing Analysis Valuable Input