The Risk 2003 commodity and energy derivatives rankings

2003 Commodity & Energy Rankings

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Last year’s energy rankings were dominated by the companies that stepped into the void left by Enron’s implosion. They cheerfully predicted that the disaster would not cause any long-term damage to liquidity. But Enron was more than just a major counterparty. It was the primary liquidity provider for a range of products (some of dubious value). It was also among the leaders in suspect accounting and trading practices – hiding losses through opaque structured vehicles and inflating re