Energy Risk
E-On reaches asset agreement with Enel/Acciona over Endesa bid
German energy utility E.On has withdrawn its bid for Spanish utility Endesa. The decision was taken after E.On reached agreement with rival joint-bidders Enel, an Italian utility, and Acciona, a Spanish construction and services company, to acquire some…
Coral to acquire Avista
Coral Energy, a subsidiary of Shell Trading, has agreed to acquire all operating assets of Avista Energy, the energy marketing and trading subsidiary of Avista Corporation.
Italians win Yukos auction – for Gazprom
EniNeftegaz , a Russian joint-venture between Italian companies Eni (with a 60% stake) and Enel (with a 40% stake) is the second winner in a round of auctions selling off the assets of Russian oil giant Yukos.
UBS enters European power and gas
UBS has launched its European power and gas business with a trade in the UK gas market.
ICE launches Middle East sour crude contract
IntercontinentalExchange will go head-to-head with the Dubai Mercantile Exchange (DME) by launching a sour crude futures contract based on Middle East production.
DME launch delayed
The Dubai Mercantile Exchange (DME) today announced that it has delayed its launch by one month until June 1, 2007, subject to regulatory approvals of its clearing arrangement.
ISDA adds coal annex to its Master Agreement
The International Swaps and Derivatives Association (ISDA) today announced publication of the ISDA Global Physical Coal Annex to the ISDA Master Agreement.
Survey reveals major energy buyers’ views and strategies
A pan-European price forecasting survey of 100 major energy users has revealed that only two fifths of respondents had a risk management policy - seen as essential when developing an energy procurement strategy.
Storm Exchange launches electronic weather exchange
Storm Exchange, a financial technology company that helps corporations to reduce the financial impact of unplanned weather on earnings, has unveiled an electronic weather exchange based on 500 proprietary, industry-specific weather indices.
GM&T and Soteg sign power plant agreement
London-based Gazprom Marketing and Trading (GM&T), and Soteg, the main supplier of natural gas and electricity in Luxembourg, have signed a Memorandum of Understanding to form a joint venture for the construction of a combined cycle gas turbine plant in…
Swiss Re closes European Clean Energy Fund
Global reinsurer Swiss Re has announced the successful close of the European Clean Energy Fund, one of the largest funds of this type in Europe.
Macquarie Cook Power begins trading
The Macquarie Group, a global financial services firm, today announced the commencement of trading by Macquarie Cook Power, an electricity trading and marketing company servicing the US energy market.
Power struggle
After years of negotiations, market players believe that a tipping point in the liberalisation of European power markets could be near. But who will be in the driving seat, asks Oliver Holtaway
The missing link
With several countries now developing emissions trading schemes, UN-supervised project-based emissions credits could become the linking instrument that creates a global price signal for greenhouse gas abatement. But greater standardisation in the market…
The hidden costs of climate change
The business risks posed to energy companies by climate change go well beyond compliance with emissions reduction schemes. Most companies that have taken climate risks into account have only considered half the picture, says John Firth
Charging at commodities
Canada may rank as the world's third largest hydrocarbon producer, yet its energy derivatives market has been, up to now, somewhat constrained. David Watkins reports
Michael Bertuccio
Roderick Bruce discovers what has helped BP's MICHAEL BERTUCCIO achieve his success on both the physical and financial sides of the energy business
Troubled waters
Nord Stream, the planned gas pipeline that will link the super giant Russian gas fields of Siberia directly with Europe, looks set to offer an important solution to the EU's energy security concerns. But even before under-sea construction has begun, the…
Impact of ethanol
Increased demand for ethanol in the US has led to predictions that biofuels will have a 30% share of global energy demand by 2030, writes Eric Fishhaut
Finding the way forward
US wholesale power markets are currently the subject of much concern. As Ferc begins a review to improve competition, Edison Electric Institute's Richard McMahon suggests some key ways to move forward
Has mean reversion had its day?
Some experts are questioning whether mean-reversion models – once the standard way of explaining energy price movements after simple one-factor Brownian motion modelling fell from favour – are still suited to the petroleum and gas markets. Dario Ghazi…