Case Study: Qatari Energy Company achieves successful surplus asset auction with Requis

Qatari Energy Company drives hundreds of thousands in auction volume with Requis

The Qatari Energy Company, a major energy company in Qatar, faced a challenge with a large collection of unused inventory that was incurring significant annual storage costs. They partnered with the vendor Requis to utilize its auction platform to sell these surplus energy assets.

Requis organized a blended online and on-site auction, a first of its kind in Qatar, which featured its anti-bid sniping tool called Overtime. The solution was highly successful, earning the customer hundreds of thousands of dollars and removing the inventory burden. For one lot, the competitive environment on the Requis platform secured a 266% increase over the expected reserve price.