Energy
Business as usual for Merrill as BofA eyes prize
Merrill Lynch may have made mistakes in the credit market, but its commodity franchise is a real prize for its prospective owners, finds Energy Risk
Transparency act remains unclear
Proposed legistlation on US energy market regulation is causing concern amongst traders finds Pauline McCallion
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.
EU Commits €10 billion for carbon capture storage
The Environment Committee of the European Parliament voted yesterday in favour of introducing new carbon capture and storage technology (CCS) for large power stations built from 2015 onwards.
US bailout bill heralds eight year tax credit extension for solar energy
It was good news for the solar energy industry as it was given an eight year investment tax credit (ITC) extension in the financial bailout bill passed by US House of Representatives on 3rd October.
Imarex takes majority stake in Bravo Futures
Freight broker Imarex has exercised an option to take a majority stake in Italian forward freight agreement (FFA) brokerage Bravo Futures. Bravo will now be known as Imarex Italia.
EDF Trading to acquire Eagle Energy from Lehman Brothers
London-based EDF Trading has agreed to purchase Eagle Energy Partners, a Houston-based energy marketing and services company acquired by Lehman Brothers in May 2007.
APX Group buys Endex
Amsterdam-based exchange operator APX Group has purchased fellow Dutch energy exchange company Endex for an undisclosed fee, and plans to merge the two businesses.
CFTC to examine crude oil volatility
Record price movements in the price of crude oil earlier this week have drawn further scrutiny from regulators.
Imarex to launch electronic Time Charter Equivalent contracts
Norwegian freight derivatives exchange Imarex will introduce the first electronic Time Charter Equivalent (TCE) contracts in October, the company has announced.
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.
CFTC report on swap dealer and index trader activity
Following an unprecedented survey of off-exchange swap dealers and commodity index funds carried out in June 2008, the Commodity Futures Trading Commission has made some recommendations on activities of swap dealers and commodity index traders.
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.
CantorCO2e to hold first binding CER auction
Carbon broker CantorCO2e will hold the first binding Certified Emissions Reduction (CER) auction on 2 October.
China displaces UK in top five countries for renewables
China has moved into the top five most attractive countries for renewables investment, knocking the UK to sixth place, according to an Ernst & Young survey. The Energy country attractiveness indices, published by E&Y every quarter, look at a country’s…
RGGI futures competition hots up
As the fledgling US Regional Greenhouse Gas Initiative finds its feet, is there sufficient liquidity for two exchange-traded futures contracts? Katie Holliday finds out. Additional reporting by Roderick Bruce