Global oil storage monitoring available from Ursa Space Systems

By Patrick C. Miller | June 11, 2018

Oil companies, hedge fund managers and banks now have access to Ursa Space Systems’ radar satellite imagery to monitor oil storage globally.

Each week, Ursa Global Oil Storage Monitoring uses radar satellite imagery to measure more than 3.6 billion barrels of crude oil storage in nearly 10,000 tanks. Ursa has also added North American oil storage monitoring to the service and will be partnering with S&P Global Platts.

Located Ithaca, New York, Ursa is a provider of geospatial intelligence solutions. The partnership with S&P Global Platts—a division of S&P Global—incorporates Ursa’s new global oil storage monitoring capability into S&P Global Platts Analytics products and services. The companies also plan to jointly develop new products and services for the commodity and energy markets.  

Ursa’s satellite coverage includes more than 340 oil terminals, including 119 key refineries and the 15 largest refineries in the world. The product provides weekly direct measurements for high accuracy and reliability. According to Ursa, the radar satellite-based collection method is not affected by weather. Strict quality assurance processes incorporate both automation and human analysis. Ursa also supports data use by regularly sharing analysis, insights and education with users.

S&P Global Platts is an independent provider of information, benchmark prices and analytics for the energy and commodities markets. The firm said its insights help deliver greater transparency and efficiency to companies, governments and individuals in 190 countries to make better decisions.

“We constantly seek to improve the quality and accuracy of S&P Global Platts Analytics supply and demand outlooks,” said Chris Midgley, head of analytics content for S&P Global Platts. “Ursa’s Global Oil Storage Monitoring helps validate our analysis and enables us to respond closer to real time. Partnering with Ursa will enable us to consider innovative ways to leverage satellite data to further advance our market insight and support customers’ strategic decisions.”

Ursa Global Oil Storage Monitoring aggregates and analyzes data from what it calls “the industry’s largest network of radar satellite providers” to provide commercial customers with alternative sources of market intelligence and competitive advantage.

“Ursa’s expanded global oil storage offering connects our customers with the largest, most reliable source of geospatial data in the business, plus the analysis and tools to put that intelligence to the greatest use for their businesses,” said Adam Maher, CEO of Ursa. “Working with S&P Global Platts, we can put that capability to work for a much larger universe who will also benefit from Platts’ extensive expertise and ability to turn that data into meaningful insights for users in finance, oil and energy.”