Market risk
Tech for gas turmoil
An adaptable straight-through processing system is crucial if natural gas marketparticipants are to stay profitable despite continuing price volatility, saysOpenLink International’s Jean-Claude Riss
Gas prices hit fertiliser industry
North American fertiliser producers are struggling for survival, thanks to the high cost of natural gas. Some have turned to hedging and pre-purchasing their gas, but such measures may not be sufficient. Paul Lyon reports
Russian roulette
European and US oil companies are tipped to be big investors in Russia’s oil market. But while rewards could be great, any decision to invest in thecountry will be fraught with difficulties. Paul Lyon reports
Competing at the highest level
BP is fast becoming as well known for its risk management services as it is as a global energy company.
Lands of confusion
Oil production uncertainties in Iraq and political doubts in Russia and Venezuelaare keeping crude prices well above historical averages. MariaKielmas reports
Opec keeps a tight grip
The latest production quota cut by the Organisation of Petroleum Exporting Countries has forced prices up, but will crude oil producers in Europe and elsewhere co-operate to help them stay up? EricFishhaut examines the situation
Upstream sector gets flexible
The oil exploration and production sector is transforming its thinking and trying to become more flexible by using portfolio management models, finds Maria Kielmas
Trading crude blows
Banks and oil majors alike are building up their oil derivatives operations, vying to attract the same corporate client base. But the oil companies do notseem unduly concerned about the competition, finds Paul Lyon
Refining systems for oil trading
The increasing complexity of the crude oil business – on both the physical and financial side – means companies in the sector need fast-changingand flexible software to manage their operations. CliveDavidson reports
Profiting from gas prices
Rachel Jacobson of energy information and software provider Fame looks at how natural gas prices are likely to rise and what firms can do to protect against them
Eyeing the pricing
US energy regulators are keeping an ever-more-watchful eye on gas and power price reporting – but are they finally flexing their muscles appropriately? Paul Lyon reports
The great gas price divide
US natural gas prices may be volatile, but is there a real need to worry? Some participants blame the New York Mercantile Exchange for price spikes and worry about the future, while others see no problem with the market’s health. By Paul Lyon
The politics of betting
Using markets to forecast political events may not be as strange an idea as it seemed in July, when a terrorism futures scheme collapsed. But there is still scepticism as to whether such an approach would be ethical or effective. By Maria Kielmas
Rothschild enters oil risk sector
Heading the senior team is Martin Fraenkel, previously managing director of JPMorgan Chase's global commodities group in London. Fraenkel has recruited hissenior team from outside Rothschild. KamalInvestment bank Rothschild has entered the oil risk…
Operational and market risks of a regulated power utility
Victor Dvortsov and Ken Dragoon present an analytical method for including market and operational risks when estimating utility portfolio value-at-risk
Measuring the value of clearing
Central clearing houses offer major advantages to the electricity trading industry, says UK Power Exchange’s Paul Danielsen. He sets out a practical example to demonstrate how UK power firms can benefit from clearing
To store or not to store
Here we describe the optimal operation and valuation of gas storage based on a real option methodology. Using Zeebrugge gas prices as a practical example, Cyriel de Jong and Kasper Walet clarify the optionality in gas storage, analyse its valuation and…
Gas supply problems persist
Natural gas prices are likely to remain high, as the Bush administration’s efforts to open up new sources of supply continue to face opposition. Kevin Foster reports
US gas squeeze hits power
Tight natural gas supplies in the US are adding to worries over reliability of electricity supplies, says Richard McMahon of the Edison Electric Institute
Power to the European gas markets
Interesting developments in theEuropean gas markets mean that 2003proving to be a good year.Luca Baccarini, managing director ofGaselys and market expert, looksforward to profitable times
Chicago Mercantile Exchange to list European weather contracts
The Chicago Mercantile Exchange (CME) has started offering European weather derivatives, referenced on five cities’ temperatures.
Barrier to entry
Bank of America and UBS are still trying to overcome obstacles that could prevent them entering physical power trading in the US. Federal Energy Regulatory Commission regulations represent the biggest obstacle. Paul Lyon reports
Pieter Verberne
Pieter Verberne, Amsterdam PowerExchange’s (APX) chief operatingofficer, is a busy man. The Dutchexchange is finalising the technologyupgrading of its recent acquisitions, naturalgas exchange Enmo and Automated PowerExchange, both based in the UK. It is…
Switching off to save cash
High electricity price volatility over the European summer has raised awareness of interruptible power contracts, finds James Ockenden