General Electric Capital Structured Finance Group (SFG) has invested in Petroleum Exchange (PE), an asset trading house founded in 1996. SFG has put in undisclosed equity to acquire 30% of PE’s petroweb.com e-commerce portal.
Walsh
SFG e-business manager Kevin Walsh told PDM “Petroweb.com is a good fit with SFG’s e-business initiatives and oil and gas investment strategy.” Walsh describes Petroweb as an ‘infomediary’ bringing together buyers and sellers of industry data. Petroweb provides a map interface to view, purchase, download and evaluate well, production data, seismic and pipeline information.
built-in
The data is supplied by industry-leading data providers. E-commerce is ‘built in’ to the map interface. Petroweb can also be used by oil and gas companies to capitalize on legacy data assets. SFG is an investor in oil industry and high tech service companies. SFG provides financial products and services and acts as an equity partner in energy, telecommunications, and transport. Parent group GE Capital is wholly owned subsidiary of General Electric and has $345 billion assets.
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