Energy

Nymex fires opening shots for ICE

Nymex has made a $150 million cash bid for the Atlanta based Intercontinental Exchange (ICE), and would also pay $67 million for shareholders of the International Petroleum Exchange (IPE), according to a senior Nymex official. The bid, which includes…

Amerada Hess forms LNG division

US energy company Amerada Hess has formed a joint venture with an affiliate of New York-based Poten & Partners, to be known as Hess LNG. The joint venture will be based at Amerada's New York headquarters and will pursue investments in liquefied natural…

Nymex president to quit

Bo Collins, president of The New York Mercantile Exchange (Nymex), will leave the exchange at the end of this month. Nymex said the decision not to renew his contract was by made by "mutual agreement."

Baltic Exchange forms asset derivatives advisory group

The London-based Baltic Exchange has formed an independent advisory group to enhance the emerging market for ship vessel asset derivatives. The group consists of key users, derivative brokers and physical panellists and will act as an information…

BoA’s head of energy trading lands at hedge fund

Julian Barrowcliffe, formerly global head of energy trading for Bank of America in New York, has joined Vega Asset Management – a New York-based hedge fund with $11 billion under management. In his new role Barrowcliffe will manage a commodities trading…

Wine bar hedges weather

UK-based Corney and Barrow Wine Bars has entered into a group wide weather derivative hedge with XL Trading Partners, the Connecticut-based weather risk management company.

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