Operational risk
Four charged with carbon trading fraud in Belgium
Four people have been formally charged by the Belgian authorities for money laundering, in an investigation into fraudulent trading in carbon emissions permits, according the Reuters news agency.
Saxo Bank: Oil to fall to $40 in 2010
Oil prices are set to tumble to $40 per barrel (bbl) by the end of 2010, following spare capacity “sloshing around” in the world energy system and despite physical oil nearing peak production, says trading and investment house Saxo Bank. However, longer…
Google applies for power marketer status
Google Energy, a subsidiary of the internet search engine, has submitted an application to the Federal Energy Regulatory Commission (Ferc) for market-based rate authority.
UK gas markets to eye US for LNG supply
Transatlantic arbitrage could be on the horizon for the UK, after the manager of UK’s natural gas network National Grid, issued its second gas balancing alert this winter to address the shortfall of supplies from Norway.
LNG experts confident that Asia will take on Australian supply
PetroChina’s cancellation of its deal with Australia liquefied natural gas developer Woodside Petroleum is not indicative of a reduction in LNG demand from Asia, say experts.
Nodal Exchange offers first real-time LMP contracts
Nodal Exchange launched eight contracts today, its first to settle against real-time Locational Marginal Price (LMP).
Gensler calls for tighter regulation of dealers
Commodity Futures Trading Commission (CFTC) chairman Gary Gensler refused to detail a timetable for imposing position limits on energy traders today, but called for tighter regulation of dealers in over-the-counter derivatives.
Cold snap highlights UK’s gas storage tightness
UK gas prices have risen following severe winter weather, prompting experts to renew calls for increased storage capacity and a more diversified energy supply.
Total takes $2.25bn stake in US shale
The joint venture agreed by Total and Chesapeake in December could lead to further North American shale deals and signals Total’s desire to develop its unconventional resources worldwide.
First snowfall trade cleared on CME
Choice Environmental, a portfolio company of OTC Global Holdings (OTCGH), has brokered the first CME-cleared snowfall hedging risk instrument – a snowfall binary option contract for Detroit.
Russia/Belarus crisis not expected to affect oil market in the longer term
Russia’s halt in crude oil supplies to Belarus, which is providing some support to the oil complex today (January 4), is not expected to have a big impact on the global market, say analysts.
Commodity investor sentiment positive, BarCap survey reveals
Barclays Capital’s fifth annual commodities investor survey reveals positive sentiment towards commodity investing.
SGX steps ups offering to compete with SMX
The Singapore Exchange (SGX) will introduce a fresh range of commodity products in the first quarter of 2010.
Mexico hedges oil price at $57 in 2010
The government of Mexico has hedged much of its 2010 oil exports at $57 per barrel following the successful completion of its 2009 hedging programme, which generated gross revenues of $5 billion.
Interview: Bank of America Merrill Lynch
Since the Bank of America takeover in September of last year, the commodities business of Merrill Lynch has been forging ahead with plans it had in place before the interruption of the financial crisis. Rachel Morison talks to co-heads of global…
Standardised US coal contracts could boost liquidity
A drive to standardise OTC contracts in the US coal trading sector could boost liquidity in a market hit hard by recent unfavourable supply and demand fundamentals. Pauline McCallion reports
US cap-and-trade offsets clouded by uncertainty
As US firms await climate change legislation, it looks inevitable that heavy emitters will need to invest in carbon offset projects – some of them overseas – in order to meet targets. However, the outlook for offsets is clouded by regulatory uncertainty…
UK energy policy: time for change?
UK energy policy could be set for a shake-up next year, with a change of government looking likely, and security of supply and green issues at the fore, writes Lawrence Haar
Lessons learnt in 2009
For risk managers, 2009 was about dealing with the aftermath of the financial crisis, revisiting models and putting greater emphasis on liquidity and cashflow risk. Katie Holliday talks to experts about the major lessons learnt this year
Copenhagen: Derailed by hot air?
There is a skeleton in the Kyoto Protocol’s closet, and it has the potential to spook the Copenhagen talks, says Andreas Arvanitakis of Point Carbon