Market risk
Michael Cosgrove
Our 15th anniversary profile series of key energy industry figures continues as Pauline McCallion talks with with Michael Cosgrove, head of commodities and energy brokerage, North America at GFI
Get-out clause
The economic downturn and fall in commodities prices have left many companies holding contracts that are now unfavourable. Julianne Hughes-Jennett and Alexander Anslow of Lovells discuss when force majeure and other clauses can be used to cancel or…
Rogue PVM oil deals not behind price spike say traders
Unauthorised trading in Brent futures contracts on June 30 by a staff member at oil broker PVM was not the main cause of a spike in oil prices, according to traders.
Model students
Mauro Cesa, Energy Risk's technical editor, talks to quants about how quantitative analysis for energy markets has developed and what they see as the most influential technical publications of the past 15 years
Charting 15 years of prices
David Linton looks back at the long-term trends for oil, gas & power and where prices might go next
15-year Rankings
Energy Risk reveals the top-ranked companies over 15 years of Commodity Rankings
In the beginning...
Some aspects of the energy markets are unrecognisable from 1994, while other issues remain remarkably similar. Stella Farrington looks at the landscape of 15 years ago and how it has moved on
Learning from losses
Energy and commodity markets have staged impressive growth in the past 15 years, but there have also been some eye-watering failures along the way. Katie Holliday considers what has been learnt from these catastrophes, and whether derivatives scandals…
Making markets
In the first of two articles tracing the beginnings of energy derivatives, Roderick Bruce talks to oil trading pioneers about the market’s formative years
Oil broker PVM hit by trading loss
Oil broker PVM today said it has lost just under $10 million due to unauthorised trading in Brent futures contracts on June 30.
Icap offers cleared broking service to Iberian electricity market
Interdealer broker Icap Energy is to offer its cleared OTC broking services on the Iberian electricity market (Mibel).
Russia forges ahead with power market liberalisation
The freely-traded portion of the electricity market in Russia was increased from 30% to 50% on July 1. The rise is in line with the state's plans to achieve 100% free pricing by 2011 and sends a positive signal to the market that it will follow through…
Exelon increases NRG offer
Exelon Corporation has increased its offer to acquire all of the outstanding NRG common stock by 12.4%.
CME launches clearing services for physical NGL contracts
CME has announced the launch of clearing services for six new physically delivered natural gas liquids (NGL) futures contracts.
Baltic Dry Index altered to boost derivatives trading
Changes will be made to how the Baltic Dry Index (BDI) is calculated in an effort to boost derivatives trading, the Baltic Exchange announced today.
EEX to launch intraday nat gas auction
European Energy Exchange (EEX) will launch an intra-day auction on the German spot market for natural gas on July 15 2009.
IEA forecasts too optimistic says Barcap
Supply-side projections in the International Energy Agency's (IEA) Medium-Term Oil Market Report 2009 are "too optimistic" and "will be subject to substantial revisions in time," according to a research report by Costanza Jacazio, commodities analyst at…
GDF Suez boosts Hungarian electricity market
The Brussels-based trading arm of GDF Suez yesterday extended its market making service for Hungarian futures traded on the Prague Energy Exchange (PXE).
IEA reduces predictions for oil demand
The recession has seen the IEA revise down its predictions for oil demand in 2013 by 3.3 mb/d, with consumption falling as low as 84.9 mb/d by 2014 in the worst case scenario, and demand for gas dipping for the first time in 50 years.
New Austrian natural gas exchange to clear through ECC
European Commodity Clearing (ECC) is to offer clearing services for a new natural gas exchange at Austria's Central European Gas Hub (CEGH), hosted by Vienna Stock Exchange.
Revenues up in US E&P despite downturn
Exploration and production revenues of US oil & gas companies grew by 35% to $183.3 billion in 2008, according to a study by advisory firm Ernst and Young.
Dubai to price physical oil against DME Oman futures
Dubai Mercantile Exchange (DME) has confirmed that the Dubai Department of Petroleum Affairs (DPA) will set its official monthly selling price (OSP) for physical crude based on a differential to the settlement price of the DME's Oman Crude Oil Futures…
CCFE to list steel scrap contracts
The Chicago Climate Futures Exchange (CCFE) and pricing information company World Steel Dynamics (WSD) have launched the World Steel Exchange (WSE), a new exchange platform listing index-based cash-settled futures contracts for steel scrap.