Wednesday, December 30, 2015
Danish Central Oil Stockholding Entity
Updating a cloud-based system for efficient management
The European Union’s dependency on imports of petroleum products is an increasing cause for concern for European economic prospects. The FDO (the Danish Central Stockholding Entity) was established and run in close cooperation between the oil companies and the energy authorities and plays a central role in Danish emergency oil management in the event of oil supply crisis or war. FDO’s business is mission critical. Correct reporting and management of oil storage is important for FDO, so the quality of data collection is more important than efficiency.
However, FDO was still using spreadsheets to collect, process and report data on oil supply, usage and specification of stock from different countries. With more than 70 companies registered with FDO, this meant more than 70 reports monthly were handled by email. So, getting a report approved and managing the oil data required enormous time and effort, especially when something was wrong.