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# oil News

February 26, 2019 by at Blockchain, Business, News, Platform
Vakt, a blockchain-powered oil trading platform based out of London has enrolled onshore companies responsible for two-thirds of all deals in the economically important waters of the North Sea, Financial Times reported on February 25, 2019. Vakt to Take the Sea by Storm Blockchain technology is making giant waves across...
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....
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