News
DGCX plastics contracts launch postponed
The launch of two new plastics futures contracts at the Dubai Gold & Commodities Exchange (DGCX) has been delayed.
Derivatives to move to exchange-cleared platforms in 2009
Financial industry experts are predicting a further shift in how derivatives are traded in 2009, with exchange-traded products expected to take over from OTC derivatives, according to a survey by derivatives technology provider Sophis.
Macquarie buys Constellation’s downstream gas business
Macquarie Group has announced that it is buying Constellation Energy's Houston-based downstream natural gas trading operations for an undisclosed fee.
DME oil benchmarks migrate to CME platform
Dubai Mercantile Exchange (DME) and Chicago Mercantile Exchange (CME) have completed the migration of three DME crude oil benchmark products onto the CME Globex platform.
RWE Supply & Trading opens Dubai office
RWE Supply & Trading opened an office in Dubai this month to cover activities in the natural gas and LNG markets.
Mercuria opens office in Nigeria
Oil and petroleum products trading group Mercuria Energy will open an office in Abuja, Nigeria on February 5.
US wind energy grows by 8300 MW in 2008
A record 8358 megawatts of new wind-powered generating capacity was installed in the US in 2008, according to the American Wind Energy Association (AWEA). The $17 billion investment represents a 50% growth on 2007 generation levels.
European Commission plans global carbon trading scheme
The European Commission (EC) today set out proposals for a global agreement to tackle climate change, a pact it hopes will be signed at the UN climate conference in Copenhagen in December.
Total moves to boost oil sands involvement
Total E&P Canada has announced an offer to acquire Toronto-listed UTS Energy (UTS) for C$617m.
FFA market shifts further towards clearing
Fears of counterparty credit risk have led to a sharp migration towards clearing in the freight derivatives market over the past four months. The ratio of cleared forward freight agreement (FFA) trades to non-cleared over-the-counter trades in the last…
CME and JSE to cooperate on corn futures contract
The Johannesburg Stock Exchange (JSE) is to license CME Group's benchmark corn futures settlement prices to create a new JSE cash-settled corn futures contract.
SSE and Iberdrola join forces for UK nuclear
UK utility Scottish and Southern Energy (SSE) has joined forces with Spanish utility Iberdrola to help kick-start the UK's nuclear new build programme. They will begin by securing potential sites for nuclear power stations and work alongside UK…
Ofgem closes competition case against Scottish Power and SSE
UK energy regulator Ofgem has closed a Competition Act case investigating the behaviour of Scottish Power and Scottish and Southern Energy in the wholesale electricity market.
Constellation sells commodities business to Goldman Sachs
Constellation Energy is to sell the majority of its London-based international commodities business, including its coal and freight operations and European energy trading units, to Goldman Sachs.
UBS buys AIG commodity indexing business
UBS has announced that it will acquire the commodity index business of AIG Financial Products Group. The deal includes the rights to the Dow Jones-AIG Commodity Index, an industry benchmark launched a decade ago.
UBS sells base metals and energy business to Barcap
UBS today announced that it will sell its positions in base metals, oil and US power & gas to Barclays Capital.
New Chicago petroleum contracts to be listed on ClearPort
CME Group has launched four Chicago petroleum contracts on its ClearPort trading platform.
RWE and E.ON team up for UK nuclear projects
German utilities RWE and E.ON have formed a joint-venture to develop new nuclear power stations in the UK.
FCStone buys Australian risk management firm
US commodity risk management firm FCStone Group has bought the risk management arm of Australian rural services provider Elders for an undisclosed sum.
Vattenfall Trading founds shipping company
Vattenfall Trading Services has founded Copenhagen-based shipping company VT Shipping after acquiring three barges and three tugs from a Danish shipping company late last year.
Oil price slump hits Canadian oil sands production
The precipitous drop in oil prices has had a significant impact on projected oil sands production, finds Pauline McCallion
Tullett Prebon closes US environmental desk
Interdealer broker Tullett Prebon has closed its US environmental products desk in Jersey City, New Jersey.
Italian power market hit by crisis decree
A proposed policy package from the Italian government in response to the financial crisis could cause further turmoil in the domestic power market, finds Rachel Morison
DNV suspension hits CER issuance pipeline
The suspension of CDM project verifier DNV will cause further delays in the CER pipeline, though the market remains robust, finds Katie Holliday