Market risk
LNG seen as big winner from nuclear decline in Japan
Japan’s decision last week to remove nuclear energy from the country’s fuel mix by 2040, is set to significantly increase the country’s short-term demand for fossil fuels, especially liquefied natural gas, say analysts
Aggressive oil hedging enables Plains E&P’s big deepwater play
Plains Exploration & Production will hedge up to 90% of its oil production for the next three years, the Houston-based company says as it reaches a deal to buy $6.1 billion of oil assets in the Gulf of Mexico from BP and Shell
IEA analyst moves to Gunvor
Gunvor has hired former International Energy Agency analyst David Fyfe as head of market research and analysis
Outlook for freight derivatives market
Liquidity in the dry bulk freight derivatives market dried up rapidly this year with many players exiting the market. Jay Maroo talks to market experts about their outlook for the market now and what needs to be done to kick-start it
Does commodities floor trading have a future?
Once the beating heart of global energy markets, the Nymex trading floor now seems to be in its death throes. Alexander Osipovich asks how much longer open outcry has to live – and whether we should be sorry to see it go
Cutting edge: Marketing of renewable energy in the German market
Power generated from renewable energy sources such as wind and solar has considerable influence on power markets in Western Europe. Björn Naundorf and Peter Stagge present a study in which they investigate the impact of renewable generation on intraday…
New breed of upstream oil & gas firms have increased appetite for hedging
The growth of master limited partnerships in the North American energy sector is creating a new breed of exploration and production companies with an increased appetite for hedging. The biggest of these, Linn Energy, has hedged 100% of its production out…
Energy Risk interview: chief fund manager at Japan's Astmax
Tetsu Emori, chief fund manager at commodities-focused asset manager Astmax, talks to Energy Risk about the firm’s trading strategy and his commodities outlook for Asian investors
Energy Risk interview: Bharat Petroleum's hedging programme
RK Mehra, executive director (international trade) at Bharat Petroleum Corporation Limited, talks to Jay Maroo about his company’s commodity hedging programme, corporate hedging in India and the likely effect of any regulatory changes
Outlook for commodity trading in Asia
Commodities trading in Asia has grown significantly with corporates looking eastwards for new opportunities and growth. But an uncertain global climate and regulatory differences provide challenges. Gillian Carr reports
Commodity hedging's PR dilemma
Media coverage of hedging is often flawed, distorted or downright wrong, and companies face huge challenges in managing public perceptions of their hedge programmes, Alexander Osipovich finds
Turning points: Brenda Boultwood
As Brenda Boultwood, the former chief risk officer of Constellation Energy, sets off in a new career direction, she tells Alexander Osipovich about managing risk through tough times
Trading positions: September 2012
Energy Risk catches up with the latest appointments, promotions and departures in global commodity markets
US ban on crude exports receives fresh scrutiny
The shale revolution has led to talk of easing the decades-old restrictions on the export of US crude oil – but how likely is that to happen? Alexander Osipovich reports
Sponsored Q&A: APX-Endex
APX-Endex and Fluxys Belgium are working together to reshape the Belgian natural gas market. Christian Moger, APX-Endex’s commercial manager of the Continental spot gas markets, explains how the new market will be structured and what APX-Endex and Fluxys…
Ruling sets back US emissions trading
Federal judges reject the US Environmental Protection Agency’s latest clean air rule, disappointing emissions market participants and shaking confidence in the viability of US cap-and-trade schemes
Turning points: United Icap's Walter Zimmermann
From meditating with the Maharishi Mahesh Yogi to using fractals to predict oil prices, Walter Zimmermann of United Icap has had a remarkably varied career. Alexander Osipovich reports
Applied risk management series: modelling spreads in energy markets
The modelling of energy spreads, surprisingly, is one of the most overlooked areas in energy finance. Carlos Blanco, Michael Pierce and José Ramón Aragonés explore the most widely used one-factor and two-factor spread models for derivatives valuation and…
Trading positions – August 2012
Energy Risk catches up with the latest appointments, promotions and departures in global commodity markets
Book extract: Energy Markets by Vince Kaminski
Vincent Kaminski’s new book Energy Markets, published by Incisive Media, will be released on January 18 and is now available for pre-order. Below is an edited extract of the author’s introduction in which he explains the content and philosophy of the…
Growing pressure to de-link European oil and gas prices
Gazprom’s latest renegotiations of its long-term gas supply contracts resulted in lower prices for the buyers, but no attempt to move away from oil indexation. But with spot gas prices in Europe forecast to remain depressed, the pressure to de-link oil…
Energy companies increase weather hedging
As temperatures rise and extreme events grow more common, energy companies have stepped up their hedging of weather risk, according to market participants. Alexander Osipovich reports