Operational risk
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
Shell Gas chief: end-users will face credit issues - Exclusive
Shell Gas Direct’s chief tells Energy Risk that major end-users’ credit worthiness will be one of four major challenges for industrial and commercial users in the next few years
CFTC to rework position limits rule
CFTC Chairman confirms regulator will propose new rule on position limits as part of its expanded remit under financial legislation that could be enacted imminently by US President Obama
Moody’s warn of Spanish power sector downgrade
Rating agency warns that a surprise Spanish government review of wholesale electricity prices could lead to a downgrade of Spain's power companies
Gazprom quashes fears over Georgia pipeline stake
Russia’s energy giant Gazprom shoots down fears that it is looking to acquire or has acquired a significant stake in Georgia’s main natural gas pipeline and says it is only hypothetically interested in an acquisition
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
Dissatisfied with CAIR replacement, market calls for legislative fix
Proposals to replace the existing US SO2 and NOx emissions reduction schemes may not be enough to remove market uncertainty.
CantorCO2e’s UK carbon desk closure signals consolidation trend
As exchanges see a rise in carbon trade volumes, consolidation among brokers is expected.
Contract standardisation could create risk say experts
Instead of making things easier and reducing risk, standardisation of energy and commodities' contracts could increase risk
Isda in sweeping commodity definitions overhaul - Exclusive
The International Swaps and Derivatives Association is carrying out its biggest overhaul for years of commodity definitions, which will include new products to reflect market developments
Commodity markets face hedging activity boost
With commodity market conditions seemingly ripe for consumer hedging, Lianna Brinded looks at whether there has been a recent uptick in consumer hedging activity
Gap between PR on safety & reality hit BP
BP has been accused of negligence and arrogance following the Deepwater Horizon disaster. Alex Davis examines the central role energy sector reputational risk management must now play
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
Trading positions – July 2010
Energy Risk catches up with the latest appointments, promotions and departures in global commodity markets
Knock-on effects of US drilling ban could be long-lasting
What longer-term implications could the moratorium on new drilling in the Gulf of Mexico have on production costs and supply amid uncertainty over new regulations asks Pauline McCallion
Asian demand spurs commodities boom
Asian demand for commodities continues to be insatiable. Alex Davis looks at how western investment banks are looking to take advantage of the opportunities presented by the growth
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
The slow growth of the carbon offsets market
Despite the integral role played by forests in efforts to combat global warming, the market for forest-based carbon offsets has been slow to develop. Katie Holliday talks to experts about how this landscape is now changing