Energy Risk
New price record for crude
Crude oil futures closed at a new record high Friday, driven by tight fundamentals and geopolitical tensions.
BP settles with CFTC
BP has agreed to pay a $303 million fine to the Commodity Futures Trading Commission (CFTC) and Department of Justice (DoJ) over alleged TET propane market manipulation in February 2004.
Earnings grow 14% for energy risk professionals
Energy risk management professionals enjoyed an average 14% rise in pay during 2006, according to a survey conducted by Risk Talent Associates, a risk management executive search firm.
CFTC pushes for greater oversight
The Commodities Futures Trading Commission (CFTC) has issued a report to Congress recommending that its oversight ability be expanded across electronic trading facilities known as Exempt Commercial Markets (ECMs), which include the electronic…
Raging California wildfires trigger transmission emergency
The California Independent System Operator Corporation (CAISO), which operates California’s open-market wholesale power grid, has issued a transmission emergency warning following four days of wildfires that have sparked the biggest US evacuation since…
ODL brokers record gas oil options deal
ODL Securities brokered the largest ever deal in exchange-traded gas oil options in September.
US cannot cope with power demand: Nerc
Electricity usage in the United States is projected to grow more than twice as fast as capacity growth over the next 10 years, the North American Electric Reliability Corporation (NERC) has warned in its 2007 Long-Term Reliability Assessment.
Mizuho launches alternative investment group
Mizuho International, the London-based international securities arm of Mizuho Financial Group, has launched a new alternative investment group (AIG).
Nomura to offer catastrophe risk hedging
Nomura Securities will provide its Japanese clients with risk hedging to transfer catastrophe-related risk to the capital markets via derivatives and catastrophe bonds.
E.ON takes majority stake in Russia’s OGK-4
German utility E.ON has acquired a 69% stake in Russian power plant company OGK-4 for €4 billion. OGK-4 is one of six large-scale power plant operators in Russia being privatised by the state-run holding company RAO UES
Aleri and OILspace enter partnership
Aleri, a provider of complex event processing (CEP) technology, and OILspace, a provider of real-time energy management applications, have entered into a partnership to offer their combined services to customers.
JPMorgan TSS selected as ICE Clear Europe consolidation bank
IntercontinentalExchange (ICE) has appointed JPMorgan Treasury & Securities Services (JPMorgan TSS) as consolidation bank for its European clearing house, ICE Clear Europe.
Crude hits all time high of $88, more upside seen
Oil price risk remains to the upside after it shot through $88 a barrel Tuesday on declining US stocks and growing geopolitical tensions in the Middle East, analysts say.
Merrill Lynch introduces biofuels indices
Investment bank Merrill Lynch has introduced two indices designed to offer investors exposure to the fast-growing biofuels market.
Record volumes for SSY / GlobalCoal screen
Shipbroker SSY has announced a record number of deals on its online freight derivatives trading platform, run in conjunction with coal trading services provider GlobalCoal.
Goldman Sachs invests in Nordic Windpower
Investment bank Goldman Sachs has made a “significant investment” in Nordic Windpower, a manufacturer of two-bladed utility-scale wind turbines.
BP restructures to “close performance gap”
Oil company BP has announced it will restructure its business as part of a global initiative to close a performance gap with its rivals.
EEX and Eurex to cooperate in CO2 trading
The European Energy Exchange (EEX) and international derivatives exchange Eurex announced today that they are to offer a common platform for emissions trading.
Breaking the chain
Most gas sold in continental Europe is still priced against oil products, even though the rationale for this link has waned. But some end-users have had enough. Oliver Holtaway reports
John Casaudoumecq
Citi's head of global commodities John Casaudoumecq explains to Oliver Holtaway why he switched to the sector after a career in the rate markets – and why he felt relocating to London was crucial to building the business
A climate of change
Proposals for an emissions trading scheme in Australia have met with widespread support from industry. However, some stakeholders are questioning what the impact will be on their business, and some believe an ETS alone may not be enough to meet…
An unfair competition
As one of the largest importers of natural gas in the European Union, Italy is a clear example of why liberalisation is harder in net importing countries. Alberto Cavaliere, professor of public economics at the University of Pavia, looks at the state of…
Birth of a new swaps market
Compliance traders in the EU emissions trading scheme will be able to import project-based CERs to meet their requirements from 2008 onwards. Andreas Arvanitakis of Point Carbon reports