Global commodities trader Trafigura and U.S. data analytics company Palantir Technologies have unveiled a platform to calculate supply-chain emissions of the energy sector.

The Agora for Energy platform was launched Wednesday at the annual Asia Pacific Petroleum Conference in Singapore.

The companies said in a news release that the platform will enable users to integrate primary data and industry emissions data to understand end-to-end commodity supply chain carbon emissions.

It will also help the evaluation of alternative supply chain pathways by modeling the commercial impacts of carbon pricing mechanisms on supply chain choices, they added.

First users include supermajor BP plc and Colombian oil giant Ecopetrol.

"We believe that carbon intensity as a commodity specification can enable greater visibility of low carbon alternatives," Ben Luckock, co-head of oil trading at Trafigura, said in the release.

The platform was first created for the metals industry. Trafigura and Palantir are now exploring ways of standardizing carbon intensity reporting and developing new methodologies, they said.

This content was created by Oil Price Information Service, which is operated by Dow Jones & Co. OPIS is run independently from Dow Jones Newswires and The Wall Street Journal.

--Reporting by Abdul Latheef, alatheef@opisnet.com; Editing by Michael Kelly, mkelly@opisnet.com

(END) Dow Jones Newswires

September 06, 2023 12:34 ET (16:34 GMT)

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