Energy Risk/News
Oil & gas sector stung by Obama budget proposals
Tax changes proposed in President Obama's 2010 budget have raised concerns in the US oil & gas industry about supply security and price volatility. Pauline McCallion reports
“Slow and Painful” recovery for oil industry says Moodys
Ratings agency Moody's expects economic recovery within the global oil industry in 2010 to be 'slow and painful', according to its Industry Outlook for the Global Integrated Oil sector published last week.
Rogue PVM oil deals not behind price spike say traders
Unauthorised trading in Brent futures contracts on June 30 by a staff member at oil broker PVM was not the main cause of a spike in oil prices, according to traders.
FCStone announces merger deal
International Assets Holding Corporation and FCStone Group have signed a definitive agreement to merge in a share swap, creating a combined company with a market capitalization of approximately $260 million.
Exelon increases NRG offer
Exelon Corporation has increased its offer to acquire all of the outstanding NRG common stock by 12.4%.
Alpiq strengthens presence in Romania
Aare-Tessin, the electricity subsidiary of Swiss energy trading company Alpiq Holding, has acquired Romanian energy provider EHOL Distribution for an undisclosed fee.
Russia forges ahead with power market liberalisation
The freely-traded portion of the electricity market in Russia was increased from 30% to 50% on July 1. The rise is in line with the state's plans to achieve 100% free pricing by 2011 and sends a positive signal to the market that it will follow through…
Icap offers cleared broking service to Iberian electricity market
Interdealer broker Icap Energy is to offer its cleared OTC broking services on the Iberian electricity market (Mibel).
Oil broker PVM hit by trading loss
Oil broker PVM today said it has lost just under $10 million due to unauthorised trading in Brent futures contracts on June 30.
EEX to launch intraday nat gas auction
European Energy Exchange (EEX) will launch an intra-day auction on the German spot market for natural gas on July 15 2009.
DOE awards $408m to CCS projects
US Department of Energy Secretary Steven Chu announced today that two carbon capture and storage (CCS) projects will receive $408 million in funding from the American Recovery and Reinvestment Act.
BG Group buys into US shale
US oil and natural gas company Exco has signed an agreement with UK-based BG Group to jointly develop its Haynesville shale gas assets.
EU issues national template to meet renewables targets
The European Commission has issued a template for National Renewable Energy Action Plans (NREAPS) requiring Member States to detail their strategies for reaching 2020 renewable energy targets.
Baltic Dry Index altered to boost derivatives trading
Changes will be made to how the Baltic Dry Index (BDI) is calculated in an effort to boost derivatives trading, the Baltic Exchange announced today.
CME launches clearing services for physical NGL contracts
CME has announced the launch of clearing services for six new physically delivered natural gas liquids (NGL) futures contracts.
National Grid secures £360 million loan for UK gas distribution upgrade
The European Investment Bank (EIB) has signed a loan of £360 million ($590 million) to National Grid to support the company's investment programme for the upgrade and extension of its four gas distribution networks in the UK.
EcoSecurities registers largest Gold Standard VER project
EcoSecurities, a Dublin-based environmental project developer, has registered the Rotor Elektrik Uretim wind farm in Turkey as the largest project under the Gold Standard, a carbon credit quality label.
CME launches SO2 futures and options contracts
The CME Group will offer new sulfur dioxide (SO2) emission 25-allowance futures and options contracts from July 12, for a trade date of July 13.