News
Nymex takes 15% share in Imarex
New York Mercantile Exchange (Nymex) has agreed to acquire 15.1% of Norwegian derivatives exchange Imarex for around $52 million. Nymex will buy the shares from founding Imarex shareholder Frontline, a Bermuda-based crude oil tanker company.
CNE innovates in energy risk management
Constellation NewEnergy (CNE), a subsidiary of US utility Constellation Energy, has completed a successful trial of a new risk management programme for large industrial users.
Oil & gas construction costs reach new high
Costs associated with constructing new oil & gas facilities have surged to a record high, says Cambridge Energy Research Associates (CERA).
Japan Airlines teams up with SolArc
Japan Airlines (JAL) has selected SolArc RightAngle as its Next Generation Fuel Administration System (NGFAS).
Linked global carbon market could be worth €800 billion
A linked global carbon market between six major regions could be worth €600–800 billion, European Energy Exchange (EEX) chief operating officer Maik Neubauer said today at a press conference
TFS brokers first Singapore-approved CDM project
TFS Energy has brokered the first Clean Development Mechanism (CDM) project to be approved by a Singaporean Designated National Authority (DNA).
Crude hits new record high
Crude oil futures closed at a new record high Tuesday, driven by supply concerns and the dollar’s continued woes against the Euro.
Irish SEM successfully launched
The new wholesale electricity market that unites the power grids of Northern Ireland and the Republic of Ireland has been successfully launched.
Amaranth denied by court
A New York judge has denied Amaranth Advisors’ request to prevent the Federal Energy Regulatory Commission (Ferc) from pursuing legal action against it while it was being sued by another federal agency.
US cannot cope with power demand: NERC
Electricity usage in the US is projected to grow more than twice as fast as capacity growth over the next 10 years, NERC has warned in its 2007 long-term reliability assessment. David Watkins reports
JP Morgan and Chemoil form alliance
Investment bank JP Morgan and fuel supplier Chemoil Energy have formed a strategic alliance to cross-market physical and financial energy products to their respective clients.
First Indian power exchange launched
Market technology firm Financial Technologies (FTIL) and Power Trading Corporation (PTC), a public-private partnership aimed at developing India’s power markets, have launched the New Delhi-based Indian Energy Exchange (IEX), the country’s first…
Mixed reception to oversight efforts
Attempts by the US Senate to grant the CFTC greater market oversight have met with a mixed response, writes David Watkins
ICE and Platts partner on pricing
Commodities information provider Platts is to integrate OTC market data from IntercontinentalExchange (ICE) into its forward curve data products for North American gas and power markets.
Crude price surges past $95
Crude oil futures closed at a new record high Wednesday, driven by U.S. crude inventories dropping to the lowest level in two years and a falling dollar following the Federal Reserve’s rate cut.