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Commodity News

Power & Energy Commodity News > China Oil Demand Dipped 1% in February from Year Ago

Singapore, 30 March 2015

China's apparent oil demand in February contracted 1% year over year to 40.7 million metric tons (mt), or an average 10.66 million barrels per day (b/d), according to a just-released Platts analysis of Chinese government data.

Read more: China Oil Demand Dipped 1% in February from Year Ago

Commodity News > Cleartrade Exchange to launch new global trading platform

London, 30 March 2015

David Briggs, Chief Technology Officer, at Cleartrade Exchange (CLTX) talks to Commodities Now about how participants in traditional OTC cleared voice markets require increasingly sophisticated tools as they transition to electronic trading, how Cleartrade have tackled this issue with the launch of their new global trading platform in April 2015 and why they have chosen Deutsche Börse Group’s global Architecture.

Read more: Cleartrade Exchange to launch new global trading platform

Commodity News > Trafigura completes $5.3bn European credit facility

Geneva, 30 March 2015

Trafigura Beheer B.V. has successfully signed off its flagship European multi-currency syndicated revolving credit facilities (the “Facilities”) totalling USD5.3 billion. The Facilities, initially launched at USD4.25 billion, were very well received by invited banks and closed substantially oversubscribed.

The Facilities comprise a USD1.87 billion 364-day revolving credit facility with two 364-day extension options, and a USD3.43 billion 3-year revolving credit facility with two 1-year extension options.

The Facilities will be used to refinance the Company’s existing USD4.735 billion Facilities dated 31 March 2014, as well as for general corporate purposes.

“It’s very gratifying that Trafigura’s relationship with the worldwide banking community continues to strengthen and deepen with a total of 51 financial institutions committing to the facilities. The bank-relationship model is the bedrock of our funding strategy and we are very pleased that the strength of our credit standing continues to attract new financial institutions to our flagship bank facility,” said Pierre Lorinet, Chief Financial Officer and Managing Director, Asia Pacific for Trafigura.

The loan was arranged by Mandated Lead Arrangers & Bookrunners Rabobank (Active Bookrunner), ING Bank N.V. (Active Bookrunner), Lloyds Bank plc, Société Générale Corporate & Investment Banking (Active Bookrunner), Standard Chartered Bank, The Royal Bank of Scotland plc (Active Bookrunner) and UniCredit Bank AG. In addition to the seven Mandated Lead Arrangers & Bookrunners, three Mandated Lead Arrangers and 41 additional financial institutions joined the Facilities during syndication, totalling 51 banks.

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Power & Energy Commodity News > PEGAS: Successful launch

Leipzig, 27 March 2015:

PEGAS, the pan-European gas trading platform operated by Powernext, announces the successful launch of products for the British and Italian gas hubs on 26 March 2015.

Read more: PEGAS: Successful launch

Power & Energy Commodity News > Oil: Why The Latest Rally Needs To Be Sold

London, 27 March 2015: 

Oil prices breached the $50 mark on Thursday as Saudi Arabia and other Gulf states deployed airstrikes into Yemen in defense of the Sunni leadership and against the Shiite Houthi rebels.  While oil has moved upwards rapidly after retesting old lows in the low 40's last week, this latest 4% move in oil is counterintuitive and needs to be sold.

Read more: Oil: Why The Latest Rally Needs To Be Sold

Agriculture & Softs News > USDA Extends ARC and PLC Deadlines

Washington, 27 March 2015:

Agriculture Secretary Tom Vilsack today provided farm owners and producers one additional week, until April 7, 2015, to choose between Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC), the safety-net programs established by the 2014 Farm Bill. The final day to update yield history or reallocate base acres also will be April 7, 2015.

Read more: USDA Extends ARC and PLC Deadlines

Technology & Commodity News > Brady launches fully integrated solution for concentrates, refined metals and derivatives

London, 27 March 2015:

Brady plc, a leading global provider of trading, risk management and settlement solutions to the energy, commodities and recycling sectors, announced today the launch of its fully integrated trading and risk management solution to support companies trading refined metals, concentrates and derivatives.

Read more: Brady launches fully integrated solution for concentrates, refined metals and derivatives

Commodity News > 2015 CTRM Conference Announced

Houston, Prague, London, 27 March 2015

Commodity Technology Advisory (ComTech), the leading analyst firm covering the energy and commodity trading and risk management (E/CTRM) technologies markets, announces that it will be hosting the 2nd annual CTRM Conference in London on October 22nd, 2015 in partnership with Commodities Now magazine.

Read more: 2015 CTRM Conference Announced

Power & Energy Commodity News > Oil and Gas exploration costs set to fall 33%

Edinburgh, 26 March 2015

The oil and gas industry is responding to the low oil price environment with exploration budget cuts in 2015 which will average 30%, leading to suggestions that exploration activity could be significantly curtailed. However in an effort to drive value, Wood Mackenzie says the industry is addressing a long standing cost inflation issue, and asserts that on average exploration costs will fall by a third, softening the blow of budget cuts. Although overall well numbers will dip in 2015, Wood Mackenzie says drilling activity in 2016 is set to recover as many explorers seize their chance to drill at lower costs.

Read more: Oil and Gas exploration costs set to fall 33%

Power & Energy Commodity News > Genscape launches Gulf Coast Crude Fundamentals Report

London, 26 March 2015

With continued incentive to store crude, and Cushing at historic levels, traders look to Gulf Coast; Genscape provides weekly look into factors driving this critical area. Meeting the demands of oil market participants for a holistic and highly accurate view into the key factors driving U.S. markets, Genscape launched its new Gulf Coast Crude Fundamentals Report, which provides weekly insight and analysis based on the company’s proprietary monitoring data for storage, transportation, and refining in the region.

 

Read more: Genscape launches Gulf Coast Crude Fundamentals Report

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