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Blockchain Economy Istanbul Summit  •  
February 20, 2019

# oil News

January 17, 2019 by at Adoption, Blockchain, Business, News
On January 16, London-based blockchain oil trading platform VAKT announced that oil and gas giants Chevron, Total and Reliance have joined its new blockchain-powered commodity trade platform. VAKT Puts Oil onto the Blockchain VAKT’s mission is “to digitize the global commodities trading industry, creating a secure, trusted ecosystem, powered by...
The Abu Dhabi National Oil Company (ADNOC), a leading diversified energy and petrochemicals group that claims to produce roughly 3 million barrels of oil and 10.5 cubic feet of natural gas daily, has joined forces with IBM  to enable it integrate distributed ledger technology (DLT) into its operations and reduce...
A blockchain technology-based platform backed by global oil and energy giants BP, Shell, and Equinor is poised to go live by the end of the year, reports S&P Global, November 12, 2018. Aim to Modernize Physical Energy Post-trade Processes In the 21st-century trade world, the global energy and oil industry...
May 31, 2018 by at Altcoins, Business, Finance, News
Despite the criticisms that the controversial Petro cryptocurrency has faced both locally and internationally since its launch in February 2018, the coin’s backers have unsuccessfully tried their best to gain relevance and seek a robust use-case. However, most countries have thwarted the idea of using a cryptocurrency for official deals....
April 30, 2018 by at Altcoins, Finance, News
India can gain a 30 percent discount on crude oil purchases from Venezuela only if the payments are made using the state-endorsed digital currency, the Petro, which is backed by the country’s oil and mineral reserves. Coinsecure Thinking of Listing the Petro The Petro is a cryptocurrency which was developed...
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