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Petrolatin and Oracle to Create the First Latin American Exchange for the Oil IndustryOfficial Portal of the Venezuelan Petroleum Chamber Selects Oracle as Technology Partner for Regional B2B ExchangeREDWOOD SHORES, Calif., Dec. 19 -- Oracle Corp. (Nasdaq: ORCL - news), the largest provider of software for e-business, announced today that Petrolatin.com, official portal of the Venezuelan Petroleum Chamber and future portal for the Latin American oil sector, has chosen Oracle® Exchange to power an online business to business exchange of goods and services among the industries of the sector. In addition to handling transactions between trading partners, the site will include data, documents, statistics, events and laws linked to the oil business.Petrolatin will lead the electronic marketplace initiative for the oil industry, with Oracle providing the marketplace software technology and hosting platform. The Venezuelan- based Petrolatin.com will operate as a regional exchange that will track the requirements for B2B transactions in each of the virtual communities it will serve such as Venezuela, Colombia, Brazil, Argentina, Ecuador, Trinidad and Tobago, and Mexico. ``Today's announcement is a great achievement for oil companies such as PDVSA, private operators, heavy crude projects, suppliers of oil by-products, gasoline and the petrochemical sector, which now have a regional online tool to purchase, sell and market their products,'' indicated Ramon Viso Managing Director, Petrolatin. ``We are excited about partnership with such an innovative company as Oracle and look forward to bringing this much needed exchange to market.'' About Oracle Oracle Corporation provides the software that powers the Internet. For more information about Oracle, please call 650-506-7000. Trademarks Oracle is a registered trademark of Oracle Corporation. Other names may be trademarks of their respective owners. Editorial Contact: Reema Bahnasy OracleMobile 415/401-4000 jmorgan@tenthdimension.com top of page |
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