Energy
Energy traders urged to pre-register for risk poll
Energy traders wishing to take part in Energy Risk/Risk’s 12th annual Commodity Rankings can now pre-register to vote to avoid missing important voter updates and deadlines in the magazines’ annual survey of the energy business.
Chicago Climate Exchange approved to trade futures
The Chicago Climate Futures Exchange (CCFE) obtained approval from the US Commodity Futures Trading Commission (CFTC) last week to trade emissions futures contracts.
Gazprom completes Rosneft merger, appoints head of new company
Sergei Bogdanchikov will retain his job as chief executive of Gazpromneft, the new company formed yesterday by the merger of Russian gas monopoly Gazprom and state oil company Rosneft. He was previously head of Rosneft.
A slice of the IPE
The fate of the Nymex Brent contract launched this month in Ireland – an undisguised attempt to grab business from the IPE – will be determined by Christmas, say Dublin floor traders. By Stella Farrington
A slow squeeze
The oil price may have eased recently, but it remains high. What impact is this having on the global economy? Concerns remain for the long-term future of crude supply. Joe Marsh reports
A surprising future
High oil prices are not triggering as large an upturn in oil exploration as was first expected, with many questioning how long the current situation will last. But high prices are having some rather unexpected effects. By Maria Kielmas
Ten years at the top
A decade of commodity rankings has seen many players come and go – but as James Ockenden finds, the top two investment banks, Morgan Stanley and Goldman Sachs, have been solid all the way
Nymex to launch two new coal swap futures
The New York Mercantile Exchange (Nymex) will launch two new coal futures contracts – one for eastern coal and one for western coal – on its ClearPort trading platform on October 31.
Nymex to launch New England electricity futures contract
The New York Mercantile Exchange will introduce a New England swap futures contract on its ClearPort trading platform on October 31.
EEX launches daily CO 2 price index
The European Energy Exchange (EEX) will from today publish a reference price for the trade in CO 2 certificates throughout Europe on each trading day. The move comes in preparation for the European Union emissions trading scheme (ETS), which will start…
Nymex European launch imminent
Nymex aims to launch an open outcry exchange in Europe, most likely initially in Dublin using Nybot’s Finex facilities, according to president James Newsome.
Nymex names head of new strategy department
John D’Agostino will head up a new department at the New York Mercantile Exchange, which will focus on strategic options for expansion and growth. The exchange has promoted D’Agostino to vice-president of strategy and business development from manager…
A legal rollercoaster
US-based Polygon wants to see a better restructuring deal for British Energy’sshareholders. But the hedge fund faces a struggle to prevent the UK nuclear powergenerator from delisting. Joe Marsh reports
Nymex ends open-outcry trading of PJM monthly power futures
The New York Mercantile Exchange (Nymex) will move daytime trading of the PJM monthly electricity futures contract to ClearPort, its internet-based system, from the open-outcry trading floor on November 1.
Evolution starts brokering US natural gas and power
US coal and emissions broker Evolution Markets has expanded its services to include over-the-counter (OTC) brokerage services for North American natural gas and power. Jeff Rosenzweig has joined as managing director of the new gas and power desk, and…
El Paso makes $198m from further asset sales
Houston-based energy company El Paso Corp has sold four more power plants to Northern Star Generation for $147 million, continuing its mass sell-off of assets. El Paso’s merchant energy subsidiary has also received a final instalment of $51 million on…
RBS offers freight derivatives
Royal Bank of Scotland (RBS) has started offering shipping derivatives, in the form of forward freight agreements (FFAs) linked to the transport costs of bulk commodities to its client base.
Peabody promotes head of US coal and emissions trading
Missouri-based coal company Peabody Energy has promoted Raphael Pierce to vice-president of trading at its Peabody Coaltrade subsidiary. He will continue to head up US coal and emissions trading, but with added responsibilities.
Texan retail therapy
Certain large Texas electricity suppliers want to reduce debt following significantlosses. So their retail divisions are trying harder than ever to squeeze moreprofits from a fiercely competitive retail market. JoeMarsh reports
Dominion agrees price for USGen assets
Virginia-based energy producer Dominion looks set to acquire three power plants from Maryland-based USGen New England for $656 million. However, an auction process is due to take place before the deal closes to ensure no other bidders are willing to top…
CCX and IPE team up to offer EU emissions contracts
The Chicago Climate Exchange (CCX) and the International Petroleum Exchange (IPE) today signed an agreement to list cash and futures contracts in European Climate Exchange carbon financial instruments (ECX CFIs) on the IPE. Greenhouse gas emissions…
EnCana sells oil and gas assets for $395 million
Canadian exploration & production company EnCana Corp last Thursday sold oil and natural gas assets producing 16,800 barrels of oil equivalent a day (boe/d), to Harvest Energy Trust for US$395 million.
SG sets up $100m credit facility for Kazakh energy company
SG Corporate & Investment Banking (SGCIB) said earlier this week that it has arranged an unsecured 66-month $100 million loan and hedging facility for Canada-based PetroKazakhstan Kumkol Resources (PKKR). PKKR is a subsidiary of PetroKazakhstan Inc, an…
ABN continues BNP raid
ABN Amro has hired five senior energy derivatives executives, two of whom join from BNP Paribas. The move comes just three months after the Dutch bank poached Wayne Harburn and Vincent Chevance from French rival BNP. The pair now serve as global head of…