Few sectors have evolved as rapidly over the past few years as energy trading. Amid intense competition and narrowing margins, an ever-changing regulatory environment, a proliferation of systems and processes, and increased complexities in both data and reporting, energy trading companies are being challenged like never before on how best to use their data. There are also the dangers of subjective biases when designing complex and strategic data assets.
Oil and gas operators, such as Exxon, who had previously limited their energy trading, are starting to increase their trading presence and follow the paths of companies, such as BP, Chevron and Shell, who occasionally generate more profits from trading than their refinery businesses.
This paper will look at trading across the energy spectrum, a few of the key prerequisites of a successful energy trading company today in the current high-stakes, time-sensitive environment and how one can best utilise data analytics to make sense of everything.