Increasingly Intelligent Industrial IoT Solutions, Prescriptive Not Just Predictive

Siemens and Flutura have announced a go-to-market partnership and integration of platforms focused on driving product quality and yield in the Specialty Chemicals, Heavy machinery OEM and Oil & Gas industries through the intelligent instrumentation of equipment and entire plants. With millions and even hundreds of millions of dollars invested in equipment, enabling everything from extraction to processing, storage and distribution, the two companies are actively working with some of the largest enterprises in chemicals and O&G to monitor and more efficiently manage physical assets, with digital services including oversight of operations and more centralized views into maintenance. Last week in the US, the price of oil rallied towards its highest level this year, after a drop in U.S. crude inventories and as the prospect of the loss of Iranian supply continue to percolate. The Energy Information Administration reported U.S. crude oil inventories dropped by 5.3 million barrels last week, and Gordon Gray, HSBC's global head of oil and gas equity research, said “We think oil market fundamentals are increasingly supportive of crude prices, at least at current levels.”