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W ENERGY SOFTWARE TRANSFORMS PHILLIPS 66 OPERATIONS

Michael Ferrante from W Energy Software discusses digital oilfield advancements in tank storage accounting and measurement

Amidst the digital oilfield, paper tickets, paper invoices, even faxes continue to be part and parcel of many terminal operations. Digital systems tend to be built with older, legacy technology, create data silos, and are inflexible and difficult to use. The result is a mixed bag of commercial products, internally developed solutions, and disconnected workflows for invoicing, scheduling, inventory, balancing, and regulatory reporting. Manual processes and a fragmented information landscape persist at a time when terminal operators need a single view of complex supply chains and rapidly changing customer demand.

Terminals must efficiently track the movements of hydrocarbons between interconnects and across tank farms. Cloud and unified software systems are enabling service providers to accelerate the flow of information and automate the back office from accounts receivable...

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