Energy
Merrill Lynch launches carbon certificate
Investment bank Merrill Lynch today launched an index-based investment certificate that offers protected exposure to the stocks of carbon efficient European companies.
Renewables set to lose out as Energy Bill stalls in Senate
US Republicans have forced Democrat supporters of the Energy bill to drop a controversial tax provision that would have cut tax breaks to major oil companies in an effort to boost spending on renewables.
Nymex Launches Green Exchange
Nymex Holdings, the parent company of the New York Mercantile Exchange (Nymex), is to form a new exchange trading environmental futures, options and swaps contracts.
US Senate halts progress of energy bill
A package of energy measures passed by the House of Representatives Thursday stalled in the Senate Friday because of opposition to two key provisions.
NYSE Euronext to acquire Powernext Carbon
NYSE Euronext has reached an agreement with French energy exchange Powernext to acquire Powernext Carbon, the company's emission permit division, as part of its plan to set up an international carbon market.
Barcap launches global carbon index
Barclays Capital has launched a global carbon index, which tracks the performance of carbon credits in major emissions trading schemes.
LCHClearnet expands emission clearing services
Clearing house LCHClearnet will expand its OTC clearing services for EU emissions trading scheme carbon credits (EUAs) and introduce clearing for Certified Emission Reduction (CER) contracts from the beginning of 2008.
Commodity investor sophistication increasing, says Barclays Capital
A survey of 150 Barclays Capital clients has found that half expect to have more than a 10% exposure to commodities in their portfolios, a threefold increase from a similar poll carried out in 2005.
Open outcry fading away as Nymex fends off rivals
New York Mercantile Exchange (Nymex) chairman Richard Schaeffer said today that 80% of the exchange’s business is now done electronically, as the open outcry trading floor becomes “less and less meaningful”. He also outlined ambitious plans for 2008, and…
LEBA launches CER index
The London Energy Brokers’ Association (LEBA) is launching a benchmark index for certified emissions reductions (CERs) on 3 December. The LEBA Carbon CER Index will be calculated using the average of trades for physical delivery transacted by LEBA…
Barcap launches CER swaps
Barclays Capital has launched and traded the first financially settled certified emissions reduction (CER) swap based on publicly available pricing sources.
Amerex forms REC purchasing partnership with Aramark
Amerex Brokers has formed a partnership with professional services firm Aramark Corporation to provide clients with an array of energy services, including the purchase of renewable energy credits (RECs).
Barcap invests in Canadian carbon capture
Barclays Capital, the investment banking division of Barclays PLC, has completed what it calls “a significant investment” in Enhance Energy, a Calgary-based private company specializing in CO2 enhanced oil recovery and sequestration.
New Year start for E.On Energy Trading
From January 2008, German utility EOn will combine all its European power, gas, coal, oil and carbon trading operations in the new business EOn Energy Trading (EET), headquartered in Düsseldorf.
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.
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.
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.
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.
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