ITHACA, N.Y. & LONDON--(BUSINESS WIRE)--Ursa, a provider of geospatial intelligence solutions, today announced the release of a fully global oil storage monitoring solution. Ursa Global Oil Storage Monitoring, available immediately, provides unmatched oil storage monitoring around the globe for users such as hedge funds, commodities traders, big banks, and oil companies. It uses radar satellite imagery to measure over 3.6 billion barrels of crude oil storage in nearly 10,000 tanks on a weekly basis. Ursa has also added North American oil storage monitoring as part of the expanded global service.
The company also announced that it is partnering with S&P Global Platts, a division of S&P Global (NYSE: SPGI), to incorporate Ursa’s new global oil storage monitoring capability into S&P Global Platts Analytics products and services. The companies also plan to jointly develop new products and services for the commodity and energy markets.
S&P Global Platts is an independent provider of information, benchmark prices, and analytics for the energy and commodities markets. The company’s essential insights deliver greater transparency and efficiency to companies, governments and individuals in 190 countries to make decisions with conviction.
“We constantly seek to improve the quality and accuracy of S&P Global Platts Analytics supply and demand outlooks,” said Chris Midgley, Head of Analytics Content, S&P Global Platts. “Ursa’s Global Oil Storage Monitoring helps validate our analysis and enables us to respond closer to real time. Partnering with Ursa will enable us to consider innovative ways to leverage satellite data to further advance our market insight and support customers’ strategic decisions.”
“Ursa’s expanded global oil storage offering connects our customers with the largest, most reliable source of geospatial data in the business plus the analysis and tools to put that intelligence to the greatest use for their businesses,” said Adam Maher, CEO of Ursa. “Working with S&P Global Platts, we can put that capability to work for a much larger universe who will also benefit from Platts’ extensive expertise and ability to turn that data into meaningful insights for users in finance, oil and energy.”
Ursa Global Oil Storage Monitoring aggregates and analyzes data from the industry’s largest network of radar satellite providers to provide commercial customers with alternative sources of market intelligence and competitive advantage. Coverage includes more than 340 oil terminals including 119 key refineries, and the 15 largest refineries in the world. The product provides weekly direct measurements for high accuracy and reliability and the radar satellite-based collection method is unhindered by weather. Strict QA processes incorporate both automation and human analysis and Ursa also supports data use by regularly sharing analysis, insights, and education with users.
Ursa is on an unflinching quest to move the world forward by turning data into decision advantage. Founded in 2014, Ursa pioneered transparency into oil data in China and has since expanded their global reach with geospatial intelligence products that set new standards for accuracy and reliability and are designed to empower customers with critical insights that make an impact. For more information visit www.ursaspace.com.