Overview

Supply chain relationships in the oil and gas industry are truly global in reach and complexity. Each participant in a supply chain must maintain their own records, updating their transactions and systems, which must then be reconciled with other participants in the network. Doing this with speed, complete transaction visibility, and reduced overhead is made possible by blockchain.

Seeing your specific challenges, we’ve assembled a white paper on how blockchain can help transform supply chain networks in the oil, gas, and chemicals industries — and how blockchain can enable immutable, transparent, and auditable business transactions among participants and suppliers, distributors, and partners.

Benefits

Reduce cash cycle time

Because all transactions are shared and transparent, the cash cycle can be greatly accelerated. Near real-time and automated measurements can mean faster cash collection.

Increase transaction visibility

A ledger that is shared across network partners and indelible means that tampering, fraud, and cyber-crime are much more difficult. Blockchain helps build trust.

Reduce overhead and number of cost intermediates

The time-consuming, manual reconciliation process is susceptible to errors or manipulation. Eliminating that inefficiency cuts costs that would drain the bottom line.

Solutions

Natixis, IBM, Trafigura: First blockchain solution for US crude oil market

The distributed ledger platform, built on the Linux Foundation open source Hyperledger Fabric, means that major steps in a crude oil transaction can be digitized on the blockchain — ensuring improved transparency, enhanced security, and optimized efficiency.

IBM and SAP: Transforming how businesses interact in complex joint ventures

Blockchain-based solutions, built on SAP S/4 HANA and enhanced with cognition, provide a single, permission-based, shareable ledger to deliver visibility, clarity, and efficiency for daily transactions.

ADNOC streamlines daily transactions with blockchain

The Abu Dhabi National Oil Company has announced its successful collaboration with IBM, piloting a blockchain-based automated system to integrate oil and gas production, including tracking, validating and execution of transactions at every stage.

Blockchain consulting and services

Resources

Learn more about blockchain

Blockchain is a shared, immutable ledger for recording transactions, tracking assets and building trust. Discover why businesses worldwide are adopting it.

Blockchain use cases

Find out how innovators are transforming their businesses through use cases built on the IBM Blockchain Platform.

Blockchain solutions

Forward-thinking enterprises are embracing blockchain to bring revolutionary trust and transparency to supply chains, global trade, and international payments.

IBM Supply Chain Consulting Services

We’ll help you find new ways to uncover hidden efficiencies, promote better execution and delivery, integrate emerging technologies and discover new opportunities.

Blockchain platform resources

Studies, thought leadership, and webinars to help you learn more about blockchain and get the most out of your blockchain investment.

Supply chain transparency

Build on the foundation of leading networks to create your own blockchain ecosystem to share data with trusted supply chain partners.

Next steps