Energy Risk/News
Oman obtains 30% share in Dubai Mercantile Exchange
The Sultanate of Oman’s Ministry of Finance has reached an agreement to acquire a 30% equity stake in the Dubai Mercantile Exchange (DME), the Middle East’s first energy futures exchange.
Nymex in record IPO
The New York Mercantile Exchange (Nymex) has enjoyed a record-breaking stock market debut for its initial public offering.
Energen increases 2007 natural gas, liquids hedge
US-based Energen Corporation, owner of gas exploration and production company Energen Resources Corporation (ERC), has increased its natural gas and gas-to-liquids hedging position for 2007, the company announced.
Oman implements historic change to pricing of crude oil
In an historic move which could have wide-ranging implications for crude oil trading in Asia, Oman has announced it will price its crude on the settlement price of trading at the Dubai Mercantile Exchange (DME).
Progressive, Centrica team up in clean coal project
Progressive Energy, a clean coal project developer, is to team up with UK-headquartered utility Centrica to develop an advanced clean coal project in the UK.
GFI joins ConfirmHub
ConfirmHub has announced the addition of GFI to its group of broker members, which already includes Amerex, ICAP and Tullett Prebon. New York-based GFI is a leading inter-dealer broker that specialises in over-the-counter derivatives.
LogicaCMG’s Prodis chosen for Aldbrough gas storage facility
LogicaCMG, an IT services company, has secured a contract with Statoil and SSE Hornsea to provide its Prodis software to manage the commercial operations of the UK’s largest onshore gas storage facility, Aldbrough.
El Paso expands 2007 hedge program
El Paso Corporation, one of North America’s largest independent natural gas producers, has announced that it has restructured and expanded the hedge program that supports its natural gas production for 2007.
APM wades into Californian water
ACES Power Marketing (APM) has extended its energy risk management services to irrigation districts and public water agencies in California.
CBOT launches OTC ethanol contracts
Hot on the heels of its benchmark ethanol futures contract, the Chicago Board of Trade has unveiled plans for two new over-the-counter (OTC) Ethanol Calendar Swap contracts.
ETF Securities to launch 31 ETCs on Deutsche Börse
ETF Securities, a leader in exchange-traded commodities (ETCs), will launch 31 ETCs on Deutsche Börse’s Xetra platform on 3 November.
UBS to launch European electricity and gas trading business
UBS, the Zurich-based global investment bank, will launch a European power and gas trading desk in the first quarter of 2007.
GE Energy to auction extra capacity
GE Energy Financial Services has announced its plan to auction the extra capacity created by a project it says will bolster the constrained electricity transmission grid serving New York City.
Gas pipeline sparks negative UK prices
UK gas prices fell to below zero last month, during the testing of a new pipeline. Now the pipeline is open, does more chaos ensue?