News/Commodities
El Paso makes $198m from further asset sales
Houston-based energy company El Paso Corp has sold four more power plants to Northern Star Generation for $147 million, continuing its mass sell-off of assets. El Paso’s merchant energy subsidiary has also received a final instalment of $51 million on…
Insurers weather US storms
New Angles
RBS offers freight derivatives
Royal Bank of Scotland (RBS) has started offering shipping derivatives, in the form of forward freight agreements (FFAs) linked to the transport costs of bulk commodities to its client base.
RBS offers freight derivatives
Royal Bank of Scotland (RBS) has started offering shipping derivatives, in the form of forward freight agreements (FFAs) linked to the transport costs of bulk commodities to its client base.
Ameren on course to buy Illinois Power Company
US energy company Ameren Corp has received Illinois Commerce Commission approval to buy Illinois Power Company (IP) from Houston energy company Dynegy. The $2.3 billion deal – which is scheduled to be completed in the fourth quarter – still requires…
Peabody promotes head of US coal and emissions trading
Missouri-based coal company Peabody Energy has promoted Raphael Pierce to vice-president of trading at its Peabody Coaltrade subsidiary. He will continue to head up US coal and emissions trading, but with added responsibilities.
Refco hires OTC energy broking team
The European arm of New York-based financial services firm Refco has hired two brokers to form an over-the-counter (OTC) energy derivatives team. Glen Ward and Andrew Riddell join Refco Overseas in London from US broker Amerex’s London office.
Refco hires OTC energy broking team
The European arm of New York-based financial services firm Refco has hired two brokers to form an over-the-counter (OTC) energy derivatives team. Glen Ward and Andrew Riddell join Refco Overseas in London from US broker Amerex’s London office.
Offshore wind to be big business, says new Fitch MD
Offshore wind projects and the newly expanded European Union will both bring good opportunities to Fitch Ratings over the coming 18 to 24 months, according to the Fitch Energy Group’s new European, Middle East and Africa (EMEA) managing director Andrew…
Dominion agrees price for USGen assets
Virginia-based energy producer Dominion looks set to acquire three power plants from Maryland-based USGen New England for $656 million. However, an auction process is due to take place before the deal closes to ensure no other bidders are willing to top…
CCX and IPE team up to offer EU emissions contracts
The Chicago Climate Exchange (CCX) and the International Petroleum Exchange (IPE) today signed an agreement to list cash and futures contracts in European Climate Exchange carbon financial instruments (ECX CFIs) on the IPE. Greenhouse gas emissions…
EnCana sells oil and gas assets for $395 million
Canadian exploration & production company EnCana Corp last Thursday sold oil and natural gas assets producing 16,800 barrels of oil equivalent a day (boe/d), to Harvest Energy Trust for US$395 million.
Merrill Lynch snaps up Entergy-Koch
Merrill Lynch is set to acquire the energy trading businesses of Entergy-Koch Trading (EKT), a venture of New Orleans-based Entergy Corporation and Wichita's Koch Industries.
Merrill Lynch snaps up Entergy-Koch Trading
Investment bank Merrill Lynch is set to acquire the energy trading businesses of Entergy-Koch Trading (EKT), a joint venture between New Orleans-based Entergy Corp and Koch Industries in Kansas. Energy Risk reported in June that the bank was a top…
SG sets up $100m credit facility for Kazakh energy company
SG Corporate & Investment Banking (SGCIB) said earlier this week that it has arranged an unsecured 66-month $100 million loan and hedging facility for Canada-based PetroKazakhstan Kumkol Resources (PKKR). PKKR is a subsidiary of PetroKazakhstan Inc, an…
Russia sees structured equity rise
New Angles
Corporates wise up to oil hedges
New Angles
Energi E2 chooses KWI for multi-commodity trading
Danish energy production and trading company Energi E2 today signed up for K2, the integrated energy trading and risk management system from London-based KWI. Energi E2 will use the software for multi-commodity trading, with the aim of reducing its…
Banco Santander seals its first managed synthetic CDO
Spain-based Banco Santander Central Hispano has completed its first managed synthetic credit default swap portolio transaction in the European market.
Banc of America Securities hires senior oil analyst
Banc of America Securities (BAS) yesterday hired Daniel Barcelo as a senior equity research analyst covering the global integrated oil sector. He joins the Bank of America subsidiary from rival bank Lehman Brothers and will be based in New York. He will…
ABN continues BNP raid
ABN Amro has hired five senior energy derivatives executives, two of whom join from BNP Paribas. The move comes just three months after the Dutch bank poached Wayne Harburn and Vincent Chevance from French rival BNP. The pair now serve as global head of…