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Internet of things

Motor Oil Group’s data drilling refines demand forecasting and business operations

CIO at Greece-based energy company has digital refinery and digital twin ambitions.

Motor Oil Group is a €9.5bn revenue Athens-based energy conglomerate. Operating in the south-east area of Europe the oil and gas company has expanded to become an end-to-end energy business; with more than 1,300 convenience stores and refilling stations it is one of the biggest retailers in the region. Motor Oil has a media business, a direct-to-consumer utility business, and is also in the financial services sector.

Motor Oil is included in Tech Monitor‘s Technology Leaders Index for its use of data in demand forecasting, as well as strategies around the digital refinery and digital twin innovations at its Corinth refinery – the second-largest in Europe.

Motor Oil Group’s Corinth refinery. (Photo by Aerial Motion/Shutterstock)

The company has implemented an integrated demand forecasting tool, with the self-learning system optimising stock replenishment, as well as route planning and execution with the result an improvement in truck utilisation and significantly brought down long-term distribution costs.

Indeed, early in 2020 new chief information officer, Nick Giannakakis, told New Statesman Media Group that “prescriptive analytics is a real game changer” with more companies making the leap from predictive to prescriptive capabilities. There had been no group CIO role sitting on the management board prior to 2020, which Giannakakis said represented the organisation’s commitment to transform its current operations and develop new digital business models.

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The CIO cites Norwegian energy company Equinor and its CIO Åshild Hanna Larsen as “one of our North Stars” for Equinor’s digital twin innovations, initiatives Motor Oil is keen to follow as part of its digital refinery ambitions, while Giannakakis also sees a significant opportunity in Motor Oil’s heavy manufacturing processes in emerging Edge Computing technologies.

Edward Qualtrough

Special projects editor

Edward Qualtrough is special projects editor for Tech Monitor.