Energy
Oman implements historic change to pricing of crude oil
In an historic move which could have wide-ranging implications for crude oil trading in Asia, Oman has announced it will price its crude on the settlement price of trading at the Dubai Mercantile Exchange (DME).
El Paso expands 2007 hedge program
El Paso Corporation, one of North America’s largest independent natural gas producers, has announced that it has restructured and expanded the hedge program that supports its natural gas production for 2007.
LogicaCMG’s Prodis chosen for Aldbrough gas storage facility
LogicaCMG, an IT services company, has secured a contract with Statoil and SSE Hornsea to provide its Prodis software to manage the commercial operations of the UK’s largest onshore gas storage facility, Aldbrough.
Progressive, Centrica team up in clean coal project
Progressive Energy, a clean coal project developer, is to team up with UK-headquartered utility Centrica to develop an advanced clean coal project in the UK.
UBS to launch European electricity and gas trading business
UBS, the Zurich-based global investment bank, will launch a European power and gas trading desk in the first quarter of 2007.
ETF Securities to launch 31 ETCs on Deutsche Börse
ETF Securities, a leader in exchange-traded commodities (ETCs), will launch 31 ETCs on Deutsche Börse’s Xetra platform on 3 November.
Future imperfect
Hedging physical deals with derivatives may be active risk management, but if the physical contract is breached, it can result in unnecessary losses. Andrew Meads looks at whether the innocent party can recover these losses
CME, CBOT to merge
The Chicago Mercantile Exchange is to merge with the Chicago Board of Trade in a move the exchanges say is “expected to transform global derivatives markets.”
SG, Rhodia launch emissions company
Société Générale and Rhodia Energy Services, a global specialty chemicals company, have formed a joint venture company to trade carbon.
Barclays bullish on oil
Crude oil's recent slide is set to reverse with prices returning to over $70 by the end of the year, Barclays Capital says in its latest commodity research.
DME reveals trading platform details
Energy futures exchange the Dubai Mercantile Exchange (DME), due to launch in the fourth quarter of this year, has unveiled details of its trading platform.