Occidental Selects AWS As Its Preferred Cloud Provider
Portfolio Pulse from Happy Mohamed
Occidental (NYSE:OXY), an international energy company, has selected Amazon Web Services (AWS), a subsidiary of Amazon.com, Inc. (NASDAQ:AMZN), as its preferred cloud provider. The multiyear agreement will see Occidental migrate its core production applications and IT infrastructure to AWS to improve operational efficiencies and support the development of systems for carbon removal. AWS will also work with Occidental and its subsidiary 1PointFive to develop systems architecture for large-scale direct air capture plants.
July 27, 2023 | 1:08 pm
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POSITIVE IMPACT
Amazon's AWS has been selected as the preferred cloud provider by Occidental, which could increase AWS's revenues and strengthen its position in the energy sector.
The partnership with Occidental could lead to increased revenues for AWS as it provides cloud services for the energy company. This could also strengthen AWS's position in the energy sector, potentially attracting more clients.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Occidental's decision to migrate its IT infrastructure to AWS could lead to improved operational efficiencies and reduced costs, potentially boosting its profitability.
The migration to AWS could lead to improved operational efficiencies and reduced costs for Occidental, which could boost its profitability. The partnership could also enhance Occidental's carbon removal capabilities, potentially improving its environmental reputation.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100