Articles by Risk Staff
Close-up on market risk capital
Jack Kennedy outlines rating agency Standard & Poor’s new approach for analysing the credit quality of US energy trading firms
Keeping EAR simple
Brett Humphreys discusses how trading groups can be captured within earnings-at-risk and cashflow-at-risk models. He suggests taking a top-down approach instead of a bottom-up approach based on actual positions
From Enron to Iraq
The freight derivatives market has ridden out the loss of market-maker Enron, and now all eyes are turning to the effect of military action against Iraq. By Kevin Foster
Untangling the web
Ruling out the need for a major software infrastructure project, web-based concepts make perfect sense for enterprise-wide risk management systems, says Martin Chavez
The three-way knock-on effect
Peter Nance and Lin Franks look at the interplay between market, credit, and operational risks and consider how firms might approach implementing an integrated company-wide system to tackle them
The CRO road
A company-wide understanding of risk has never been more important for energy firms. Kevin Foster talks to three chief risk officers about their role and how it is changing
Know your trade types
An accurate and clearly communicated classification of the types of trade a company carries out brings a better understanding of risk methodologies and where they are best used across the enterprise, says Greg Keers
Market mind games
The year has seen surprisingly high oil prices, which has caught many forecasters unaware given widespread predictions of slow growth. Maria Kielmas reports
After the swashbucklers
Oil exploration today is about taking as few risks as possible, meaning the smaller independent firms are losing out to the energy majors, as Maria Kielmas discovers
Brent changes promise stability
The recent change in Platts’ definition of Brent crude oil follows much debate about the price assessment of North Sea Brent crude. Software vendor Logical Information Machines takes a historic view in a search for the reasons behind the move
Green risks for the black stuff
The impact of environmental risk on oil companies may be substantial, says a new report by the World Resources Institute. What will the effect be on the oil majors’ stock prices? James Ockenden reviews the report
A towering success
There is more to the Malaysian oil and natural gas giant Petronas than its impressive headquarters. One of Asia’s biggest energy players is finding new ways of branching out, as Joel Hanley discovers
Confusion over a barrel
The latest efforts to stem price manipulation have left crude oil market participants wondering which contracts they should be trading and who will lead the pricing? Joel Hanley reports
Let’s get physical
Credit Lyonnais Rouse Derivatives is a commodity trader moving into natural gas trading. And not just on the financial side, as Joel Hanley discovers
Corruption on the ropes
Is the use of those age-old lubricants, bribery and corruption, for so long a normal part of doing business in the third world, now on the wane? Frank Gray reports