Oil & refined products
PetroChina acquires oil sands stake
PetroChina has paid C$1.9 billion for a 60% interest in two projects in the Athabasca Oils Sands in Alberta, Canada.
NGX offers physical clearing for US crude oil
Calgary-based Natural Gas Exchange (NGX) today announced the availability of physical clearing capabilities for the United States crude oil market, effective this week.
TAQA to operate Brent system
TAQA Bratani, the UK arm of the Abu Dhabi National Energy Company (TAQA) is the new operator of the North Sea Brent System pipeline and facilities. TAQA acquired the assets from oil major Shell UK, which has owned and operated them since the mid 1970s.
Market uncertain over oil price direction
Analysts at investment banks are divided in their views over the average price of crude oil for the rest of 2009 and into 2010.
IEA outlook for oil supply too bullish says Calyon
The International Energy Agency's Medium-Term Oil Market Report 2009, released on June 29, was surprisingly bullish on oil supply, according to Christophe Barret, global oil analyst at French bank Calyon.
“Slow and Painful” recovery for oil industry says Moodys
Ratings agency Moody's expects economic recovery within the global oil industry in 2010 to be 'slow and painful', according to its Industry Outlook for the Global Integrated Oil sector published last week.
Oil & gas sector stung by Obama budget proposals
Tax changes proposed in President Obama's 2010 budget have raised concerns in the US oil & gas industry about supply security and price volatility. Pauline McCallion reports
Full marks
Michel Marks, former chairman and board member of Nymex, tells Roderick Bruce about his role in taking the exchange from small potatoes to a cross-commodity powerhouse
The price isn't right
Former Saudi oil minister and head of Opec, His Excellency Sheikh Yamani, speaks to Roderick Bruce about his views on the past, present and future of the global crude oil markets
Rogue PVM oil deals not behind price spike say traders
Unauthorised trading in Brent futures contracts on June 30 by a staff member at oil broker PVM was not the main cause of a spike in oil prices, according to traders.
Charting 15 years of prices
David Linton looks back at the long-term trends for oil, gas & power and where prices might go next
In the beginning...
Some aspects of the energy markets are unrecognisable from 1994, while other issues remain remarkably similar. Stella Farrington looks at the landscape of 15 years ago and how it has moved on
Making markets
In the first of two articles tracing the beginnings of energy derivatives, Roderick Bruce talks to oil trading pioneers about the market’s formative years
Oil broker PVM hit by trading loss
Oil broker PVM today said it has lost just under $10 million due to unauthorised trading in Brent futures contracts on June 30.
IEA forecasts too optimistic says Barcap
Supply-side projections in the International Energy Agency's (IEA) Medium-Term Oil Market Report 2009 are "too optimistic" and "will be subject to substantial revisions in time," according to a research report by Costanza Jacazio, commodities analyst at…
IEA reduces predictions for oil demand
The recession has seen the IEA revise down its predictions for oil demand in 2013 by 3.3 mb/d, with consumption falling as low as 84.9 mb/d by 2014 in the worst case scenario, and demand for gas dipping for the first time in 50 years.
New chairman for BP
BP has announced that Carl-Henric Svanberg, the current chief executive officer of the Swedish telecommunications company Ericsson, will replace Peter Sutherland as the firm's chairman.
Revenues up in US E&P despite downturn
Exploration and production revenues of US oil & gas companies grew by 35% to $183.3 billion in 2008, according to a study by advisory firm Ernst and Young.
Dubai to price physical oil against DME Oman futures
Dubai Mercantile Exchange (DME) has confirmed that the Dubai Department of Petroleum Affairs (DPA) will set its official monthly selling price (OSP) for physical crude based on a differential to the settlement price of the DME's Oman Crude Oil Futures…
CME launches petroleum swaps and minute-marker energy contracts
CME Group today announced the launch of six financially settled petroleum swap futures contracts and six new minute-marker energy contracts, which will be available from mid-June.
Majors' contango play set to fade
Oil companies that profited from storing oil amid falling prices are unlikely to to see similar returns as the longer-term economic picture begins to brighten. Pauline McCallion reports
CME Group launches ethylene futures clearing services
CME Group has launched clearing services for a new Mont Belvieu ethylene futures contract, available June 14 for trade date of June 15.