Articles by Risk Staff
Ex-Merrill Lynch energy trader pleads guilty to fraud
At 24, Daniel Gordon headed Merrill Lynch’s energy trading business. He has now pleaded guilty to a $43 million fraud. Paul Lyon reports
University of California adds four to Enron lawsuit
The University of California continues to add plaintiffs to its lawsuit against Enron. RBC, Goldman Sachs and two law firms are now facing the university’s wrath. By Paul Lyon
The deal deluge
Last year was certainly an interesting time for energy company financing, and some of the most important deals were completed just before year-end. Paul Lyon looks back at some of the major trends and asks what 2004 will hold
Flying high
The US airline industry is struggling due to high jet fuel prices. Accordingly, one trade association is urging the Bush administration to change its oil purchasing strategy. By Paul Lyon
Nybot in Nymex sights
Nymex aims to buy Nybot as part of its expansion and acquisition drive, according to Nymex president Robert Collins.
Beat the system
The complexity of the energy markets has given rise to a host of risks that traditional trading systems often do not address. Paul McLean-Thorne gives his views on a well-designed energy trading and risk management system
Risk at the margin
Competition and deregulation has led to new ways of running utilities, and the commodity-trading model has emerged as the leading approach. But the challenge lies in how it is applied, argues Lawrence Haar
LNG drive gears up
The global push for LNG has reached a new level – particularly in the US. Big players had projects rubber-stamped or proposed further terminals, and the inaugural LNG summit took place. Joe Marsh reports
Winning players
A turbulent year in energy markets showed there was more competition between banks and oil majors, and further highlighted the need for a solution to the credit issues dogging energy companies and airlines. By James Ockenden
Mark Tawney
Mark Tawney, head of Swiss Re’s weather desk, admits that more work is needed if the weather risk markets are to reach maturity. By Paul Lyon
Spread Modelling for Energy Risk
Jean-Noel Dordain and Stephane Mayrague, members of the Sophis research team, present the dramatic advantages of a spread risk analysis for energy trading.
Nuclear stockpile
The US Nuclear Regulatory Commission has come under fire for not adequately monitoring the decommissioning funds of nuclear power plants. But the NRC says the criticism is unwarranted. By Paul Lyon
’Tis the season...
Abstract: Aurelian Tröndle presents a general framework for modelling prices of storable and non-storableenergy assets, which sheds light on different market fundamentals, and showshow energy market volatility is seasonal and anything but stable. The…
Weathering the storm
Natural gas markets are thought to be one of the most sensitive to changes inthe weather, but how much do other factors affect price movements? MaryAshleyHall , energy market specialist with Fame, looks at some tried and tested methodsof managing weather…
El Paso to cut debt by a third, while gas trader pleads guilty
US natural gas company El Paso – which has recently survived a bid toreplace its board and seen one of its tradersindicted – has unveiled aplan to significantly reduce its debt. By Joe Marsh