By Juliet Umeh
There is hope of increased productivity, and in return, profitability in the downstream oil sector as technology appears to be heading there to sanitise the rot inherent.
One of the challenges facing Nigerian players in the downstream sector is product theft and reduced profitability. And so, tech professionals are looking at solutions that will help out, just like they have done in other sectors of the economy, including banking and finance, agriculture, health, education and tourism.
Incidentally, one of those efforts, made a debut at the just-concluded ICTEL expo in Lagos. The expo which prides itself as the leading tech conference in West Africa, hinged this year’s theme on; Tech Disrupt: Transforming Industries with Innovation.
The new solution, Petrosoft Downstream oil and gas management business software, appears to fit into the theme of the expo.
The hardware and software, which is a suite of solutions for all businesses in the downstream sector, helps the managers of these businesses keep a tab on end to end process management to avoid fraudulent practices from staff or other unauthorised business transactions within their business entity.
The suite includes software products like Head Office, a downstream Petroleum Distribution and transport management system which handles all areas of head office financial accounting, Products distribution, wet stock management, PEF, subsidy, transport and driver management, Human Resources, Asset management, mobile applications for depot reps among other issues.
There’s also the Station Manager software, which handles all Liquified Petroleum Gas, LPG and Fuel station financial accounting, from inventory management, HR, Asset Management to retail sales and bulk sales, among others..
The solution works with or without Automatic Tank Guaging, ATG or dispenser integration. It also works in full automated mode with dispenser and tank gauging integration.
The suite also comprises of Oil Depot/Terminal Manager and Petrosoft ATG. While the oil depot terminal manager system covers all areas of oil depot operations, including asset management and financial accounting, with inbuilt CRM that allows clients to remotely handle all reconciliations and keep a tab on their accounts and also make products orders and distributions from the comfort of their office,
Petrosoft ATG is a low cost oil level sensor for retail filling stations’ real-time online inventory management for products such as diesel, kerosene and petrol.
The software solutions are joint efforts of Petrosoft limited and Hypercom, both technology firms working to salvage the oil industry against threats of waste and theft.
Chief Executive Officer, CEO of Petrosoft limited and Hypercom Chief Joshua Denila, said the companies offer locally manufactured software that will enable Nigerians reduce oil and gas thefts, improve productivity and profitability.
Speaking to Hi-tech during 2023 ICTEL expo, in Lagos, Denila said: “Our online diesel and terminal management system, truck and tech system for mobile trucks ensure that drivers do not tamper with petroleum products while they are traveling. The solutions help product owners to ensure that their products remain the same volume from when they leave terminal to discharge point, by putting a valve block technology that ensures that drivers do not tamper with such products while on motion.”
He added that apart from providing software for oil and gas management, the company also provides solutions for automation of liquefied petroleum gas, LPG retail outlets; cooking gas specifically.
“We provide management applications for fuelling stations. We also help retail outlet owners deploy solar systems that can help them power day to day operations of such retail outlets to save fuel costs. They can reduce electricity cost up to 100 percent with solar power for LPG skids and filling station.
“Same goes for individuals or small business owners. We have also built a scale down system that can also power their entire homes or offices,” he added.
Source: Vanguard
