As part of its information technology (IT) initiatives, Assam-based Numaligarh Refinery Limited (NRL), a subsidiary of Bharat Petroleum Corporation Ltd (BPCL), today implemented a tripartite B2B (Business to Business) integration with upstream oil companies, namely Oil India Ltd (OIL) and Oil and Natural Gas Corporation Ltd (ONGC), for crude oil transactions.
To mark the event of the B2B process, a roll out function was held today at ONGC, Nazira (in Sibsagar district in Upper Assam), which was attended by key officials from the three oil companies.
"Implementation of B2B between NRL, ONGC and OIL has automated a complex business process of crude oil supply and invoicing," stated a press statement from NRL.
OIL is the major producer of crude oil in Assam. On the other hand, contribution of ONGC in production of crude oil in this region is also significant. Around 70 per cent of NRL's crude throughput of 2.67 MMT (million metric tones), for the year 2013-14, was met by OIL while the balance 30 per cent was supplied by ONGC. "Implementation of B2B process will enable NRL to cover transactions worth over ~8,000 crore per annum with OIL and over ~3,000 crore with ONGC into the ambit of IT enabled settlement", the statement added.
By implementing this automated process, the three oil companies would follow a standardised business practice that will not only enhance transparency but would also increase business efficiency.
NRL had also implemented B2B process for marketing petroleum products with all the three oil marketing companies (OMCs) - BPCL, Hindustan Petroleum Corporation Limited (HPCL) and Indian Oil Corporation Limited (IOCL), in last three years. "These e-commerce initiatives have been taken up by NRL to ensure transparency and efficiency in its business transactions.
Apart from implementing B2B between OMCs and with OIL, NRL has been leveraging IT through other vital business processes like e-Payment to suppliers and service providers, e-Collection from customers, e-Tendering for procurement of material and services," the press statement added.
