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PetroCosm B2B Offers E-Commerce for Oil & Gas

PetroCosm B2B Offers E-Commerce for Oil & Gas

The newest global business-to-business e-commerce marketplace for the oil and gas industry, PetroCosm, went live on the Internet last week, offering a neutral marketplace for trading products and services.

The industry-owned online marketplace, which boasts Chevron Corp., Texaco Inc., Ariba Inc., Crosspoint Venture Partners and Requisite Technology Inc. as founding partners, will market all types of oil and gas industry services and products, from drilling equipment to professional services. The online service offers procurement, auctions, consulting, community integration, catalog, back office integration, Web/application services, business processes and a customer relations management tool. It also expects to introduce supply chain planning, financial and management services and advertising.

"Our goal is to establish a truly independent, neutral market that serves the interests of both buyers and sellers equally while also addressing the needs of an international business," said CEO Norman C. Chambers. Chambers, who was recruited to work at PetroCosm from Halliburton Co., said interest in the B2B has been "tremendous," and said the company was working to bring more users online.

The first transaction actually occurred last Monday (July 17), when PetroCosm conducted a reverse English auction for Texaco, through which the company purchased drilling equipment. It plans to use the marketplace to conduct future business transactions as well.

KPMG Consulting LLC of McLean, VA has been assisting PetroCosm in the launch by helping to build the technical architecture, and by providing support for its business development and program management office.

Based in Houston, PetroCosm also has regional offices in London, Aberdeen, Singapore and Bombay, and may expand beyond that. Access the service at www.petrocosm.com.

Carolyn Davis, Houston

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