Under its latest initiative, the company has proposed to provide its potential consumers from the oil and gas sector detailed online information on the industry, said Sanjay Gupta, additional secretary, department of energy and petrochemicals.

The product is largely targeted at clients with small and medium-sized business, said Gupta. This falls in line with the company's main business of fuel management for different clients.

The company, which has a mandate to act as a negotiator for fuel prices and requirement for state-owned companies, can also see itself undertaking similar work for other small clients in the state.

The new service would see immediate clientele in the state's power and fertiliser companies as these are likely to confer the task of fuel management on GFMC. The companies from the private sector are the potential subscriber to the services.

In view of the increasing demand, cost volatility and complexity of oil and gas business, it has become necessary for companies with interests in the sector to be cognizant of the day-to-day prices, demand and supply scenario, industry trends and news, said Gupta. ThirdEye will address all these issues through its online services. The company will give comprehensive information on prices of crude and petroleum.