Market risk
Ex-RBS Sempra boss heads to UBS
UBS has hired former RBS Sempra Commodities head Kaushik Amin amid speculation that it will restart its commodities trading business
Chinese CDM project approval drops
The Chinese government's approval rate for Clean Development Mechanism (CDM) projects has dropped by over a third since December 2009, amid continued fears that Chinese CDM-generated Certified Emission Reductions (CERs) credits will not be allowed to be…
CFTC data shows speculators don't influence commodity markets
The US Commodity Futures Trading Commission’s (CFTC) re-aggregated data releases show speculation has minimal impact on oil price movements, according to investment bank Credit Agricole.
IEA remains steady on global oil demand for 2010
The International Energy Agency (IEA) has stuck to its previous forecast for global oil demand in 2010, following two consecutive upwards revisions, but has lowered its 2009 estimates based on adjusted official data.
Tokyo carbon scheme: blueprint for Asia?
Tokyo’s recently launched carbon trading scheme could provide a blueprint for similar schemes across Asia, say carbon experts.
Valid Assumptions Required: an analysis of VaR for energy markets
In this 10-part series, Brett Humphreys takes a fresh look at the widely used risk measure value-at-risk (VaR), urging risk managers to be more aware of the many assumptions that go into the calculation to produce the VaR number.
Clearing exemption too close to call
Exempting commercial hedgers from mandatory clearing could create a loophole for the institutional investors often blamed for driving up commodity prices, according to the chief lawyer for the Commodity Futures Trading Commission (CFTC).
Estonian bidding area paves the way for integration of Baltic power markets
Nordic power market Nord Pool Spot has introduced a bidding area to connect Estonia to the Nordic region, as part of the exchange’s plans to further integrate the Baltic power market.
JP Morgan LNG launch shows growing interest in market
JP Morgan’s move into liquefied natural gas (LNG) last week is indicative of growing interest and expectations for the future of the sector.
Talking Technicals: Nymex Gas oversold
Nymex natural gas prices are completely oversold and now is not the time to buy gas, says a market expert in Energy Risk's new show, Talking Technicals.
Cutting Edge: Pure jump models for energy prices
Université de Lausanne’s Roberto Marfè investigates pure jump processes as modelling blocks for the distributions of energy returns under the pricing measure. An easy-to-implement option-implied approach is outlined, which circumvents most of the…
Risk management in vertically integrated energy companies
Once risk management is seen as more than just a control function, the business operations of vertically integrated energy companies present numerous opportunities, especially for hedging strategies. Jaime Román and Santiago Tejero of Endesa discuss
Energy Risk - Commodity Rankings Reception - photos
Highlights from Energy Risk’s Commodity Rankings cocktail reception, held in London on February 25
BP and CNPC push forward in Iraq despite oil law uncertainty
BP and China National Petroleum Corporation (CNPC) have awarded a raft of other energy and commodities companies deals to start drilling and production in the lucrative Iraqi Rumaila oilfield, which they operate, despite the current lack of a petroleum…
Pass the microphone: Preston to Cusenza
What have power trading and personal genetics got in common, and what are the advantages of a clearing house using VAR to calculate margin? Ben Preston, head of power trading at Macquarie Energy, puts his questions to Paul Cusenza, CEO of Nodal Exchange
Special report: India's energy derivatives market
Our Special Report for April focuses on India's nascent energy derivatives markets.
Q&A with JP Morgan’s head of commodities for India
Indian businesses are keen to learn how to recognise their exposures to commodity price volatility and, in turn, manage that risk, says JP Morgan’s Rahul Eapen. He tells Katie Holliday why the varying levels of knowledge and understanding make the Indian…
Building the blocks for energy risk management in India
The concept of using derivatives for risk management is still relatively new to utilities in India and viewed with caution by market regulators. Katie Holliday talks to market experts about how they expect the discipline of risk management to develop
Focus on India: Power market regulation
Despite a growing will to liberalise power markets in India, progress has been slow so far. However, regulatory changes are finally moving the market towards better transparency and competition, finds Katie Holliday
Aligning the interests of trading desks and refineries
The interests of trading desks may not always be aligned with the best interests of a vertically integrated company’s assets. Charles Ford discusses some approaches that address this issue
Economic uncertainty adds to challenge of hedging in US power markets
Uncertainty has plagued the US power sector since the financial crisis. Although many believe an economic recovery is in sight, forecasting load growth continues to be a headache for those looking to manage risk in this market. Pauline McCallion reports
Low US gas price spurs shale oil industry
The development of shale gas production in the US is expected to change the face of the natural gas sector but could it make similar waves in the US oil production industry? Pauline McCallion examines the outlook for US shale oil
Bullish data in China oil shop
With China’s seemingly unstoppable growth in oil demand fuelling speculation that it can only rise further this year, Lianna Brinded investigates how this will impact global supply and change trading relationships
Trading positions – April 2010
Energy Risk catches up with the latest appointments, promotions and departures in global commodity markets