Energy
Aviation industry calls for inclusion in Copenhagen deal
Four of the world's leading airlines have today called for carbon dioxide emissions from international aviation to be included in any new global climate change deal agreed at the UN's Copenhagen Summit in December.
Asian airlines struggle with volatile oil prices
A major contributor to the large fuel-hedging losses suffered by Chinese and Taiwanese airlines for 2008 were collar strategies - the purchase of call options and simultaneous sale of put options. But some Asian carriers, such as Malaysia's Air Asia and…
US and European firms in bid for LCH
A consortium of major US and European financial institutions is lining up a bid for London-based derivatives clearing house LCH.Clearnet. Deutsche Bank is acting as adviser on the acquisition, as well as being part of the bidding group.
ASX to launch coal and power futures
The Australian Securities Exchange (ASX) is to list thermal coal futures and options on April 21. It will also launch New Zealand electricity futures on 28 April and natural gas futures contracts for the state of Victoria on 5 May.
Nymex to list Henry Hub financial last day options
CME Group is to list Henry Hub natural gas financial last day options on its subsidiary New York Mercantile Exchange (Nymex). The options are scheduled to begin trading on February 22 for trade date February 23.
Renewed scrutiny for WTI benchmark
The effectiveness of the WTI price benchmark in reflecting the value of global crude oil has once again been brought into question, finds Pauline McCallion
Regulatory risk hits US emissions markets
Worrying regulatory indecision in the US SO2 and NOx markets has angered traders and does not bode well for the implementation of a federal cap and trade scheme, finds Roderick Bruce
CME launches weather contracts for Australia
CME Group is expanding its suite of temperature-based weather derivatives products to include Australian cities Melbourne, Sydney and Brisbane.
The fight is on for LCH
US clearing giant The Depository Trust & Clearing Corporation (DTCC) has insisted that a merger with London-based clearing house LCH.Clearnet would be completed by the end of March, despite a possible rival bid.
ECX to launch spot contracts in March
The European Climate Exchange (ECX) and ICE Futures Europe will launch daily futures contracts for EUA and CER emissions credits "sometime in March", according to ECX CEO Patrick Birley.
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…
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.
New Chicago petroleum contracts to be listed on ClearPort
CME Group has launched four Chicago petroleum contracts on its ClearPort trading platform.