fbpx

Stay Informed. Stay Competitive. Get Free Email Updates Dow 30 & Emerging Growth

Stay Informed. Stay Competitive.

Get Free Updates

Dow 30 & Emerging Growth

IBM & Amazon Collaborate To Offer OpenShift To Oil Industry

By John F. Heerdink, Jr.

As per reports, International Business Machines Corporation (IBM) and Amazon (AMZN) have come together to offer a set of tools that oil companies can use to manage diverse types of data. IBM’s technology called OpenShift will allow oil companies to use the oil-industry cloud data tools in their privately owned data centers within their countries.

In 2018, Amazon worked with Royal Dutch Shell to create a technology to turn data from more than a century of oil production, mainly from paper records, into a standardized structured format, allowing multinational oil companies to improve efficiency across their operations.

Vice president of engineering at AWS, Bill Vass, informed that expanding the reach of the data tools would also help oil companies add non-petroleum assets such as wind and solar to their portfolios. Renewable energy demands producers to know their output at various locations at different times.

“As they transition to energy companies, it makes it easier for them, because they have all their wind data and their solar data, transmission line data, all this in there as well. You’d really don’t have a concept of how complicated the energy grid actually is until you start looking at all these different ways of transmitting energy,” stated Bill Vass.
 


Dow 30 component International Business Machines Corporation (IBM) provides information technology (IT) products and services worldwide. To learn more about International Business Machines Corp (IBM) and to track its ongoing progress please visit the Vista Partners IBM Coverage Page



Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

Stay Informed! Stay Competitive! Please join us at Vista Partners, and receive our FREE email updates throughout the week and view our exclusive content and research.

(Read Original Story: IBM, Amazon partner to extend reach of data tools for oil companies in Reuters)


YOUR GUIDE TO STAYING INFORMED IN THE MARKETS

Subscribe for FREE Email Updates & Access To EXCLUSIVE Research!

Connect with us