Energy
The great bond buyback
The Bank of England has kicked off its repurchase scheme for sterling high grade bonds, but opinion is divided over whether the subsequent tightening of spreads is down to the government initiative or extraneous factors. Laurence Neville reports
Sovereign hedging lessons
Oil-hedging losses at Sri Lankan state-owned refinery Ceylon Petroleum Corporation are a lesson in the proper use of derivatives. By Joe Marsh
The Last Contango
Oil prices have remained in the doldrums so far this year, but the market took a surprising turn as it slipped into a contango at the end of 2008 that has so far remained in place. Pauline McCallion examines its causes and speaks to analysts about their…
Smart thinking
Updating ageing power transmission infrastructure with smart grid technology must be a top priority if the US is to meet growing demand while fully harnessing the potential of renewable energy. By Pauline McCallion
Oil Storage Data - Taking Stock
Volatile prices and perceived problems with WTI as a benchmark have triggered renewed calls for weekly European stock data to supplement US data. An EC directive is currently being discussed, but not everyone is in favour of this, finds Rachel Morison
Meeting the credit challenge
The US power industry needs investment of up to $2 trillion by 2020, writes Richard McMahon of EEI. He urges dialogue between utilities and regulators to ensure effective credit policies are developed
Expropriation - A very real risk
Expropriation or forced government renegotiation is a big risk for oil companies that is likely to increase in times of lower oil prices. Randel Young and Richard Devine look at how to safeguard against the worst effects
Q&A - Galena Asset Management - Ready to launch
Backed by commodity trading giant Trafigura, Galena Asset Management is launching an oil-focused energy derivatives fund to add to its existing metals and special situations funds. Roderick Bruce meets fund manager Claude Lixi to find out more
Last of the big spenders?
European M&A activity will shift from mega-mergers to smaller acquisitions this year and firms will start to look further afield for deals. Katie Holliday reports
Measure for measure
Claims that the WTI price benchmark has become ineffective have led some in the oil industry to call for a new US marker for sour crude. Roderick Bruce measures industry reaction and the potential for a global sour crude benchmark
Russian revolution?
The news that TNK-BP will sell oil products on the St. Petersburg International Mercantile Exchange could signal a shift by Russia towards market mechanisms, Roderick Bruce reports
Phoenix rises into green markets
Interdealer broker expands in to renewables and emissions markets to harness sector growth, and plans to act as a counterparty for RECs
CME acquires hurricane index
CME Group has acquired the Carvill Hurricane Index from Carvill America Inc. and renamed it the CME Hurricane Index.
Sectoral CDM proposals spark debate
In the run up to key climate negotiations in Copenhagen in December the EU has surprised the carbon market with vehement backing of a redesigned CDM. Roderick Bruce investigates
New York may up RGGI allowances
New York State may decide to allocate more allowances under the Regional Greenhouse Gas Initiative to ease the cost burden on compliance buyers, finds Pauline McCallion
S&P and Korea Exchange launch new indexes
Index provider S&P, in collaboration with the Korean Exchange (KRX), has launched two indexes: the S&P/KRX Asia 100 and Exchanges indexes, which are the first since S&P and KRX announced a partnership in September last year, and are designed to underlie…
Accounting boards: Spain's dynamic provisioning not the way forward
International accounting standard setters have warned that accounting for dynamic provisioning – rainy-day funds banks build up in good times to absorb losses in economic downturns – should not be recorded against profit and loss (P&L), as it is in Spain.
Emissions drop shows carbon markets are working, says Point Carbon
A 6% decrease on annual global emissions in 2008 in comparison to 2007 shows that the carbon markets are working, according to Point Carbon analysts.
Green shoots
Conference Report: Spain