Operational risk
The future of the floor
There have been many reports and studies comparing open-outcry and electronictrading and advocating one platform or the other.With the IPE putting all ofits eggs in the electronic basket last month, it is a great time to analyse thesituation and ask the…
RWE Trading reorganises coal, oil and freight ops
Alex Thistlethwayte has joined RWE Trading, part of German utility RWE, as head of a new department, Global Commodities Trading. He was previously director of oil trading at Deutsche Bank in London and has also traded natural gas at BP. The move is part…
CCRO data hub update to follow Energy Risk USA conference
The US-based Committee of Chief Risk Officers (CCRO) will give a presentation in Houston next Wednesday, May 11, on the energy data hub it is developing. The session will follow the last presentation of the Energy Risk USA 2005 conference and will take…
All bases covered
In 1997, Norwegian energy firm Statoil implemented an enterprise-wide risk management system with the help of Goldman Sachs. Eight years on, few energy companies can rival its approach. Joe Marsh discovers why
Tentative steps
Algeria’s state-owned oil company Sonatrach is about to become the first oil and gas company within Opec to roll out an independent risk management programme to cover its crude oil and gas sales. Stella Farrington reports
Battle for Brent rages on as open outcry closes at IPE
Open outcry at London’s IPE had its last day on Thursday, yet the debate over whether the screen can adequately replicate an oil market rages on, with IPE and Nymex both taking a punt on opposing beliefs.
The battle for Brent
Open-outcry the IPE is over, but the debate over whether the screen can adequately replicate an oil market rages on, writes Stella Farrington
Answers in the wind
Project valuation means making calculated assumptions that aren’t always accurate. Brett Humphreys discusses the assumptions that may be embedded within a valuation and how these assumptions can affect the final value
A star rises in the east
Iran’s ministry of petroleum has given the green light to launch a new petroleum exchange in the country. Mohammad Asemipour, adviser to Iran’s oil ministry and a key architect of the project, talks to Stella Farrington
Polish power exchange chooses OMX software for trading and clearing
In a move to develop its electricity spot and derivatives market, the Polish Power Exchange (PolPX) will use the Condico system from Stockholm-based OMX, the owner and operator of the Swedish stock exchange.
A solid foundation
MotherRock, the energy hedge fund set up by former Nymex president Bo Collins, recently chose Kiodex’s ASP-based risk management software. Joe Marsh explores the trade-off between web-based and installed systems
Midwest power market to start on April 1
The US energy market regulator yesterday gave the Midwest Independent System Operator (Miso) the go-ahead to launch its wholesale energy market on April 1, after several delays.
Hanging on at the top
This year’s User Choice Awards demonstrate that quality counts. In a fast-changing market, the top vendors and packages have managed to stay ahead of the pack. But the winners cannot rest easy. With IT budgets deflated, it’s a competitive market, and…
Shopping for curves
More regulation requires more accurate valuation of forward trades – and a need for more reliability in the forward curve tool. Sandy Fielden presents an informal survey of the data choices available to energy risk managers in the US natural gas and…
A solid foundation
MotherRock, the energy hedge fund set up by former Nymex president Bo Collins, recently chose Kiodex’s ASP-based risk management software. Joe Marsh explores the trade-off between web-based and installed systems
A complicated option
Why does the New York Mercantile Exchange not list average-price WTI crude options as a contract on its ClearPort electronic platform? Internal politics could be the main obstacle. Joe Marsh reports
The swap terminator
Multilateral swap cancellations look set to become commonplace in the energy sector, thanks to a service from TriOptima, which has just terminated its first round of oil swaps for six firms. Joe Marsh reports
Greenpeace protesters storm IPE
Open-outcry trade in Brent and gas oil futures at London’s International Petroleum Exchange was halted for over an hour on Wednesday afternoon after 50 to 60 protesters from environmental group Greenpeace stormed the building.
New heads for RWE Trading and RWE Power
Brian Count will leave his post as chief executive of RWE Trading, the trading arm of German utility RWE, as of July 1, when he will be replaced by Peter Terium, head of RWE group controlling. And Jan Zilius is expected to take over as chief executive of…
OpenLink may launch web-based version of Endur
OpenLink may launch a web-based version of Endur, its energy trading and risk management system, according to Matt Frye, Houston-based managing director of the software company.
China Aviation report "escalating", ready soon
Global consulting firm PricewaterhouseCoopers (PWC) has denied reports that claim a draft investigation report into the China Aviation Oil (CAO) trading scandal has been released to Singapore stock exchange SGX and to CAO itself.
Real-time trading
In an efficient, real-time power market, low-cost generation units are dispatched ahead of those with higher operating costs, and the market price reflects balanced generation and load. Here Shulang Chen discusses the basic functions of a real-time…
Mirant to pay $460m to settle California energy crisis claims
Bankrupt Atlanta-based energy marketer Mirant will pay $460 million to California power utilities and public agencies to resolve claims related to the state’s energy crisis in 2000 and 2001. The California utilities and agencies in the settlement were…
China Aviation Oil chief arrested
Chen Jiulin, the suspended chief executive of China Aviation Oil, has been arrested on his return to Singapore early Wednesday as investigations begin into the company’s huge trading losses.