News
ETG Capital opens energy hedge fund
Houston-based hedge fund firm ETG Capital Management has launched an energy fund.
EDF Trading builds its natural gas business in Spain
EDF Trading, the subsidiary of French utility EDF, responsible for wholesale energy market activity, has been granted a licence to trade physical natural gas in Spain and plans to start delivery of physical gas to market counterparties later this year.
More cooperation likely in oil industry
The long term challenge to access and develop new oil reserves is likely to foster greater cooperation between the international majors and some national oil companies, says a report on the sector by Moody's Investors Service, a credit ratings agency.
ICE acquires ChemConnect's commodity business
IntercontinentalExchange (ICE) has agreed to acquire ChemConnect’s commodity trading business. ChemConnect is an electronic marketplace for the $150billion US natural gas liquids (NGLs) and chemicals markets.
EOn creates EOn Energy Trading; reveals investment strategy
German utility EOn has announced plans to align its trading and power generation businesses “on more European lines,” according to a company statement, “in order to seize earnings and growth opportunities created by the integration of Europe’s energy…
Statoil selects Financial Objects’ energy credit risk solution
Norwegian oil & gas company Statoil is to implement Financial Objects’ energycredit solution worldwide. The solution will enable Statoil to manage credit risk across all of its energy trading operations. Installation began in April, and is expected to go…
Australia commits to emissions trading – ASX to launch futures
Following yesterday’s commitment by Australian Prime Minister John Howard to a domestic emissions trading scheme before 2012, the Australian Securities Exchange (ASX) plans to launch a carbon futures market.
Trading begins at the DME
After months of setbacks, the Dubai Mercantile Exchange (DME), the Middle East’s first international energy futures and commodities exchange, opened for business today.
Bush lays out climate agenda – without emissions trading
In a speech in Washington ahead of the G8 meeting in Germany next week, US President George Bush laid out an agenda for tackling climate change.
Dubai to use DME for crude oil pricing
The Dubai Mercantile Exchange (DME), a joint venture between Tatweer, Nymex and the Oman Investment Fund, announced today that the government of Dubai will cease pricing its export crude oil sales off its current mechanism and instead utilise DME futures…
SSY brokers groundbreaking FFA option deal
SSY Futures has recently brokered a forward freight agreement (FFA) option transaction covering Panamax earnings out to the end of 2012. The deal, fixed between two leading FFA users, has confirmed industry claims that there is appetite for longer-dated…