Oil
BP’s oil spill to double energy companies’ IT spend
The aftermath of BP’s Gulf of Mexico oil spill could double the amount energy companies will spend on information technology (IT) as they look to adhere to new regulatory requirements in offshore drilling pursuits
Challenges for energy & commodities technology
Trayport chief speaks to Lianna Brinded about how energy and commodities trading risk management systems will cope with changes in regulation
Statoil stung by hedging derivatives losses
Norwegian oil and gas giant Statoil's results are hit by major losses on hedging derivatives in spite of a rise in profits and production
Exclusive: Lloyds to seal raft of Norway energy deals
Lloyds Banking aggressively pushes into Norway with a range of energy financing deals for exploration and production (E&P), prepares to expands its Houston oil & gas team and looks at the European shale gas business
Industry disputes lack of RES support in US energy bill
The latest US Senate energy bill has been criticised for omitting a renewable energy standard (RES), which drafters felt would not attract the 60 votes needed to pass the bill
Nigerian official says oil exports not at risk
Nigeria’s oil minister has dismissed market reports that the country’s oil supply will dramatically tighten following insolvency rumours and major plans for offshore drilling
HSBC enters energy derivatives market
HSBC and Total Oil Trading expect to offer their first products in a few months' time
BP’s oil spill to tighten global oil supply - report
BP’s Gulf of Mexico oil spill will tighten global oil supply as US oil production is set to wane, following expectations the disaster will lead to stricter regulation and closer scrutiny of drilling operations in the US, say Barclays Capital
China disputes IEA energy data
The International Energy Agency’s claim that China has overtaken the US as the largest energy user, has exacerbated concerns that supply and demand data could be out of sync with price forecasts
31% of oil and gas firms lack ETRM solutions
Nearly one third of all oil and gas companies are more susceptible to systemic risk, as a report reveals 31% of these firms lack an energy trading and risk management (ETRM) solution for their operations
Moody’s boosts Petronas rating on Iraq exposure
Rating agency gives a surprise boost to Malaysian oil company Petronas’s credit rating from negative to stable, despite the company’s substantial acquisition of an Iraqi oil field with Royal Dutch Shell
China unveils major oil and gas plan
China’s seemingly insatiable appetite for energy production and consumption reaches new levels as the country unveils plans to increase oil and gas production by a third by 2020
Iraq's oil minister calls for swift action on contracts
Iraq calls on foreign energy companies, such as BP, Eni and China National Petroleum Corporation (CNPC) to move swiftly to implement their recently awarded contracts
Events force IEA to recalibrate oil assessment methods
The International Energy Agency says game changing events including sovereign debt issues, China’s oil demand and the BP Gulf of Mexico oil spill have forced it to revise the way it assesses oil markets
Energy sector’s retirement timebomb poses major op risk
Up to 80% of the world’s current energy and commodities workforce are set to retire within 15 years according to recent data. Lianna Brinded investigates the operational risk implications
European refineries face difficult times
European refining has been in the doldrums for the last few years. Alex Davis looks at the outlook for Europe’s refiners and at how this will affect hedging strategies
IEA: world seeing an energy technology revolution
The world is seeing the first signs of an energy technology revolution with rising investment in low-carbon technologies, but more is needed, says the International Energy Agency (IEA).
White House to appeal block on drilling moratorium
The US President will immediately appeal yesterday’s ruling by a Louisiana judge to block the six-month drilling moratorium put in place in the wake of the Deepwater Horizon spill in the Gulf of Mexico
Markit moves into commodities valuation
Markit, the giant independent financial information services firm, will bring energy and commodities risk managers closer to assessing real market risk with its launch of a commodities derivatives valuation service that is set to create more transparency…
Exclusive video: Power companies to be hit by US financial reforms
Senate financial reform bill could leave power companies facing major collateral problems
Exclusive video interview: Lynda Clemmons
The former Enron derivatives pioneer believes forcing trades on exchanges will benefit niche players and smaller companies
Exclusive Credit Suisse video: energy price outlooks
Crude oil prices will stay range-bound over the next three years, due to substantial Organization of the Petroleum Exporting Countries (OPEC) spare capacity, growing global demand and significant financial flows, says Credit Suisse’s head of global…
Exclusive Kaminski Video: energy risk management challenges
The energy markets still face an unprecedented level of regulatory risk over the next year, as impending changes to the US financial system loom, while at the same time, BP’s Gulf of Mexico oil spill has presented major operational risk factors for the…