OPEC, UAE to launch oil, gas database

OPEC and the United Arab Emirates Ministry of Energy will launch next week the first phase of a new global oil and gas database that will boost transparency and help industry stakeholders analyze energy information, the producer group said in a statement on Tuesday.

The Oil and Gas Big Data Project will be a multi-dimensional tool that analyzes publicly available oil and gas data.

The platform will cross-compare information between different countries, flows and products, the statement added.

The project’s future planned expansions will introduce advanced information technology, web and text mining techniques, as well as statistical, econometric and optimization methods.