Ups and Downstream

GXS to focus on downstream with PETRODEX

Gaithersburg, MD -- May 16, 2001 -- B2B e-commerce giant GE Global eXchange Services (GXS) today announced that it will focus its petroleum industry exchange, called PETRODEX, exclusively on providing services for downstream customers.

GXS said in a statement that its exclusive focus on the downstream portion of PETRODEX will allow the company to apply additional technology resources toward product enhancements for downstream customers. Downstream activities in the petroleum industry include refining and marketing.

Denver-based TransZap will take over services for the upstream customers, according to two companies. TransZap's Oildex Connect service is an Internet-based information exchange for the oil and gas industry. Using a mix of Internet and existing dialup technology, Oildex Connect provides secure transaction data and automates upstream oil and gas business processes.

Taken together, GXS's CDEX, CODE and GRADE and TransZap's Oildex Connect services enable companies within the petroleum industry to collect, monitor and share production information.

As GXS focuses exclusively on applications for the downstream side (refining and marketing) of the petroleum industry, planned enhancements to downstream PETRODEX services will include online transmission reports, data audit trails and recovery of historical data; wireless broadcast to help businesses isolate and manage points of failure in their business operations; and support for multiple versions of petroleum industry data exchange (PIDX) standards, as well as extensible markup language (XML) formats.