Energy Risk/News
APX Group buys Endex
Amsterdam-based exchange operator APX Group has purchased fellow Dutch energy exchange company Endex for an undisclosed fee, and plans to merge the two businesses.
EDF to buy British Energy
French utility EDF has agreed to pay £12 billion for nuclear generator British Energy. EDF has also signed a memorandum of understanding with Centrica that will allow the UK utility to take a 25% stake in British Energy for £3 billion.
CFTC to examine crude oil volatility
Record price movements in the price of crude oil earlier this week have drawn further scrutiny from regulators.
Goldman and Morgan become bank holding companies
Goldman Sachs and Morgan Stanley have applied to the US Federal Reserve to become bank holding companies, in response to the crisis that has seen the bankruptcy of Lehman Brothers and the acquisition of Merrill Lynch by Bank of America.
Imarex to launch electronic Time Charter Equivalent contracts
Norwegian freight derivatives exchange Imarex will introduce the first electronic Time Charter Equivalent (TCE) contracts in October, the company has announced.
Merrill Lynch European power market expansion plans remain in place
Merrill Lynch’s plans to expand further into European power markets remain unaffected by the bank’s impending merger with Bank of America, says Rupen Tanna, managing director and co-head of commodities.
Linn Energy terminates $68m of commodity contracts with Lehman
US oil and gas company Linn Energy has terminated all of its commodity derivative contracts with Lehman Brothers, and has replicated and re-hedged each of the contracts at identical strike prices with an unnamed counterparty, Linn Energy announced.
Gulf Coast refineries resuming output at reduced rate
Many US Gulf Coast refineries which shut ahead of Hurricane Ike should be operating within a week following site damage reports, according to a Platts report.
Enhanced trading platform launched in US
Elysian Systems has released a new version of its electronic trading platform, called Liquid 4, which can accommodate online trading in energy, commodities, fixed income and financial instruments.
Lehman Brothers files for bankruptcy protection
Lehman Brothers has filed for bankruptcy. In an announcement early this morning, the firm said it intended to file a petition under Chapter 11 with the Southern District Court of New York.
Bank of America buys Merrill Lynch for $50 billion
Bank of America announced today it will acquire Merrill Lynch in a $50 billion all-stock deal, rounding off an explosive weekend on Wall Street.
Almost 1.3 MBD US Gulf oil output still down
Some 99.6% of the US Gulf of Mexico’s oil output of 1.3 million barrels a day remained down Sunday, according to the US Minerals Management Service (MMS), following hurricane Ike which hit the Houston area on Saturday.
CFTC report on swap dealer and index trader activity
Following an unprecedented survey of off-exchange swap dealers and commodity index funds carried out in June 2008, the Commodity Futures Trading Commission has made some recommendations on activities of swap dealers and commodity index traders.
Reliance establishes new trading arms
India’s oil & gas company Reliance Industries, part of Reliance Group, is to set up two new trading subsidiaries in London and Singapore.
India’s NCDEX launches futures contract in thermal coal
India’s National Commodity and Derivatives Exchange Limited (NCDEX) today launched a thermal coal futures contract.
CantorCO2e to hold first binding CER auction
Carbon broker CantorCO2e will hold the first binding Certified Emissions Reduction (CER) auction on 2 October.
China displaces UK in top five countries for renewables
China has moved into the top five most attractive countries for renewables investment, knocking the UK to sixth place, according to an Ernst & Young survey. The Energy country attractiveness indices, published by E&Y every quarter, look at a country’s…
Tullett Prebon combines voice and screen trading for energy markets
Interdealer broker Tullett Prebon has introduced an internet trading platform for the Ontario power market and both the Western US and Canadian gas markets that combines voice and electronic brokering.
Icap to broker base metals on the LME
Interdealer broker Icap has launched a London Metals Exchange (LME) base metals broking business.
Minor metals to make LME debut
Futures contracts for minor metals molybdenum and cobalt will be launched on the London Metal Exchange (LME) in the second half of 2009, the LME has announced today.