Energy

Saxo Bank: Oil to fall to $40 in 2010

Oil prices are set to tumble to $40 per barrel (bbl) by the end of 2010, following spare capacity “sloshing around” in the world energy system and despite physical oil nearing peak production, says trading and investment house Saxo Bank. However, longer…

UK gas markets to eye US for LNG supply

Transatlantic arbitrage could be on the horizon for the UK, after the manager of UK’s natural gas network National Grid, issued its second gas balancing alert this winter to address the shortfall of supplies from Norway.

Chinese CER market in pricing limbo post Cop15

The market for long-term Chinese generated certified emission reductions (CER) units is in a pricing limbo, after China, the world’s largest carbon emissions emitter and one of the largest developers of clean development mechanism (CDM) projects, failed…

Total takes $2.25bn stake in US shale

The joint venture agreed by Total and Chesapeake in December could lead to further North American shale deals and signals Total’s desire to develop its unconventional resources worldwide.

EUA market auction goes live on spot market

Leipzig-based European Energy Exchange (EEX) today launched primary market auctioning of European Union Emission Allowances (EUAs). EEX is running the primary auction for EUAs in Germany on behalf of the German Federal Ministry for the Environment.

First snowfall trade cleared on CME

Choice Environmental, a portfolio company of OTC Global Holdings (OTCGH), has brokered the first CME-cleared snowfall hedging risk instrument – a snowfall binary option contract for Detroit.

Carbon market seen at $400bn by 2014

The global carbon emissions trading market will more than treble by 2014 from 2008 levels, reaching nearly $400 billion, according to market intelligence company ABI Research.

RGGI lawsuit settled

A challenge to the legality of the Regional Greenhouse Gas Initiative (RGGI) has been settled, according to a statement from the New York State organisations involved.

Exxon boosts unconventional gas position

Exxon Mobil and XTO Energy have announced an all-stock transaction valued at $41 billion, in a move designed to enhance Exxon’s position in unconventional natural gas and oil resources.

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