Oil & refined products
How low can it go?
Oil prices have lost almost half their value since thesummer as the turmoil in the global financial marketsrages on, causing many analysts to revise down theirforecasts. Pauline McCallion finds out what they areexpecting for next year and beyond
Bagging a bargain
The global oil sector is likely to emerge from the credit crisis with a more concentrated pool of players, but power will increasingly revolve around China and India as they tap the markets for cheap assets, finds Catherine Lacoursière
CME to launch new gasoil, natural gas liquids and plastics contracts
CME Group has announced the launch of new gasoil options and plastics futures contracts, as well new natural gas liquid swaps.
Nymex announces job cuts
Nymex is to make 150 job cuts over the next 18 to 24 months as a result of its acquisition by CME Group in August 2008.
A grounded business
As high fuel costs force many airlines to introduce fuel efficiencyprogrammes and even resort to grounding aircraft, Katie Holliday looksat the likely effects of these measures on jet fuel demand and price inthe coming months
Out of gas
High US gasoline prices are causing Americans to turn to energy-efficientvehicles, a trend that could have an enormous and long-term impact ongasoline demand, some experts say. Kate Fazzini investigates
Moscow launches Brent contract
Moscow’s international exchange, the Russian Trading System (RTS-FORTS), has today introduced a Brent crude oil futures contract, which will be denominated in US dollars.
CFTC to examine crude oil volatility
Record price movements in the price of crude oil earlier this week have drawn further scrutiny from regulators.
Gulf Coast refineries resuming output at reduced rate
Many US Gulf Coast refineries which shut ahead of Hurricane Ike should be operating within a week following site damage reports, according to a Platts report.
Almost 1.3 MBD US Gulf oil output still down
Some 99.6% of the US Gulf of Mexico’s oil output of 1.3 million barrels a day remained down Sunday, according to the US Minerals Management Service (MMS), following hurricane Ike which hit the Houston area on Saturday.
Reliance establishes new trading arms
India’s oil & gas company Reliance Industries, part of Reliance Group, is to set up two new trading subsidiaries in London and Singapore.
Special Report: Energy-intensive corporations
The impact of fuel costs on the bottom line of energy-intensive companies has grown steadily over recent years, but when the price of crude oil spiked to $147 a barrel in mid-July, even the world’s largest industrial corporations began to feel the pinch.
Limited oil and gas resources seen as biggest risk for NOCs
Limited oil and gas resources were identified as the highest risk issue for national oil companies (NOCs), according to a survey of NOCs by risk advisory firm Marsh.
Looking over the counter-arguments
A UK government panel investigating the role of speculators in global crude oil markets has called for more transparency in the opaque over-the-counter (OTC) market, writes Roderick Bruce
Mark Quartermain
The president of Shell Energy NorthAmerica and head of Shell EnergyTrading explains to Roderick Bruce whyhe has known since childhood that hewanted to work in oil
Oil hedging losses hit SemGroup
Tulsa, Oklahoma-based midstream oil company SemGroup has filed for bankruptcy following a $2.4 billon loss on its hedging program on the New York Mercantile Exchange (Nymex).
CBOE launches crude oil volatility index
Chicago Board Options Exchange (CBOE) has launched the CBOE Crude Oil Volatility Index (OVX).
Return of the Jodi?
The Joint Oil Data Initiative (Jodi) to improve oil market data has failed toimpress. But after receiving a tougher mandate at June’s Jeddah EnergyMeeting, that could be about to change, writes Eithne Treanor
Uncharted territory
As crude oil prices soar, the coming hurricane season looks set to add yet more complexity to US airlines’ dynamic hedging programmes. Catherine Lacoursière reports
Jet fuel futures contract takes off at MCX
Mumbai, India-based Multi-Commodities Exchange (MCX) has begun trading jet fuel futures contracts to help Indian airlines and refineries hedge against rising crude oil prices.
Brown calls for oil market transparency; reveals investment plans
UK prime minister Gordon Brown has today called for increased transparency in the global oil markets, and revealed a series of international energy investment initiatives.