Singapore – Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, today announced it has been named Data Provider of the Year at Energy Risk Asia’s 8th Annual Awards. The awards recognize companies for their role in providing the most innovative solutions to the commodities and energy markets across Asia.

Thomson Reuters Oil Research & Forecasts team was recognized for its China Crude Module which has become a crucial sign-post not only for crude oil traders but also for other trading and research professionals who require a heads up on the Chinese economy, since its launch in 2013.

The China Module forecasts crude imports into China, today’s the world’s largest and most important buyer, on a current-month, real-time basis. The Module’s most telling achievement – it has averaged 95% accuracy for forward predictions of Chinese oil imports since it was launched compared to official Chinese customs data. While the market uses the China Customs oil import figure as a measure on the Chinese economy, it previously lacked a reliable assessment of this number.

This is the second year running that Thomson Reuters has been recognized by Energy Risk for the Data Provider of the Year Award category.

“This award showcases our on-going strength in the Asia commodities and energy sector, which increasingly requires improved capabilities in monitoring, predicting and narrating real-time market movements. With all eyes on Chinese oil demand, Thomson Reuters Oil Research & Forecasts team has delivered a timely and reliable solution to enable accurate decision making for our customers in Asia and around the globe,” said Sanjeev Chatrath, Managing Director for Asia Pacific, Financial & Risk at Thomson Reuters.

“Trade routes have also become very unpredictable, and maintaining visibility into the physical flow of oil and oil products has become more difficult than ever. Our team has delivered a timely and reliable solution to get a handle on major economic indicators in the China Crude Import Assessment,” said Yan Chong Yaw, Director of Oil Research & Forecasts, Asia at Thomson Reuters.

"Despite recent jitters, China is more important than ever to the global oil market," said Mark Pengelly, Editor of Energy Risk. "Thomson Reuters has done a fine job at delivering actionable insight about China-related trade flows."

The Energy Risk Asia Awards recognize excellence across the Asian commodity and energy markets, with a particular focus on client service. The awards are run by Energy Risk, the leading global title on commodity trading and risk management, which is now in its 21st year. Entries for the awards are judged by Energy Risk’s experienced editorial staff, with input from external industry sources.

About Thomson Reuters

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