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Power & Energy Commodity News

Judge rejects BP call to halt payments

Source: Financial Times, 21st July 2013

After BP’s failed attempt to persuade Judge Barbier to stop oil spill compensation payments, its hopes now lie in the Fifth Circuit appeals court

Read the full article on FT.com

‘Saudi America’ is a Washington fantasy

Source: Financial Times, 21st July 2013

Despite the shale gas boom, John Dizard thinks US energy independence will remain a pipe dream, despite the pronouncements of top-down analysts

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US oil reaches parity with Brent

Source: Financial Times, 19th July 2013

The US benchmark trades on par with Brent for the first time in almost three years as investors switch from the North Sea contract to WTI

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US oil closes in on parity with Brent

Source: Financial Times, 19th July 2013

The rally in the US benchmark pushed its discount to Brent on the September contract to just 6 cents, the lowest since October 2010. In later trading the discount stood around 64 cents a barrel

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McCarthy confirmed as EPA chair

Source: Financial Times, 19th July 2013

She will now become the standard-bearer of President Barack Obama’s ambitious three-part plan to deal with climate change

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Osborne to slash shale gas production tax

Source: Financial Times, 19th July 2013

Energy businesses will be told to provide at least £100,000 of community benefits for each well drilled by the ‘fracking’ industry

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Energy chiefs warn on EU oil sands measures

Source: Financial Times, 18th July 2013

Chief executives of some of Britain’s largest energy service companies have warned of “significant economic consequences” if Brussels implements a fuel quality directive that would classify crude from Canada’s oil sands as dirtier than other types.

British executives echo Canadian minister’s assertion that country could be penalised for transparency in its disclosure of greenhouse gas emissions

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CR Power refutes corruption allegations

Source: Financial Times, 18th July 2013

Journalist accuses parent company chairman and other executives of intentionally overpaying for three coal mines bought by its subsidiary in 2010

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US crude oil rallies to 16-month high

Source: Financial Times, 18th July 2013

WTI has risen by almost 17% from its recent low on June 24, and the US benchmark’s rally means that its discount to Brent has narrowed further

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JPMorgan in talks over power price claims

Source: Financial Times, 18th July 2013

JPMorgan Chase is in talks to settle allegations it manipulated electricity market prices, in a deal that could cost the bank several hundred million dollars in a payment to the Federal Energy Regulatory Commission, according to people familiar with the matter.

Part of the enforcement action was to involve JPMorgan traders being banned from commodity markets, according to a person familiar with the situation

Read the full article on FT.com