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Power & Energy Commodity News

Parties no closer to agreement on Grangemouth

Source: Financial Times, 18th October 2013

Scotland’s first minister intervenes in dispute at refinery after operator Ineos put pressure on workers to change terms and conditions

Read the full article on FT.com

US crude falls close to $100

Source: Financial Times, 17th October 2013

Weakening demand from refineries and surging North American crude production has put pressure on West Texas Intermediate relative to Brent

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Cairn plans to return $300m in buyback

Source: Financial Times, 17th October 2013

UK oil explorer prepares to repurchase $300m of shares as it announces that it will start drilling operations in Morocco ‘shortly’

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EEX relaunches trading of French Physical Futures

Leipzig, 16 October 2013

As of 13 November 2013, the European Energy Exchange (EEX) will relaunch trading in physically fulfilled power futures for the French market area (“French Futures”). The maturities of the French base and peak futures comprise Month, Quarter and Year Futures. In addition, EEX will also offer French week contracts with physical fulfillment for the first time.

Read more: EEX relaunches trading of French Physical Futures

US oil refiner exports hit Europe rivals

Source: Financial Times, 16th October 2013

As US oil product exports pour into the global oil markets, European refineries are feeling the impact: their share of the products market is shrinking

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Time to end the US oil embargo

Source: Financial Times, 16th October 2013

America needs to lift its ban on crude exports, soon. The distortions and ill-feeling it causes are only going to grow

Read the full article on FT.com

Aditya Birla ensnared in India coal probe

Source: Financial Times, 15th October 2013

Anti-corruption body investigating ‘alleged irregularities’ as part of latest probe in connection with alleged misallocation of coal mining rights

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TriOptima’s completes largest European energy compression cycle

London, 15 October 2013

TriOptima today announced that 13 banks and energy houses have eliminated more than 4300 power and gas swaps and forwards with a combined notional principal value of €8.4 billion. Participants included: Alpiq, Bank of America Merrill Lynch, BKW Energie, Citigroup Global Markets Ltd, EnBW Trading, Iberdrola, JP Morgan, ScottishPower, and Société Générale.

Read more: TriOptima’s completes largest European energy compression cycle

Reliance profits up amid rupee’s fall

Source: Financial Times, 14th October 2013

Energy conglomerate’s net profits edge up 1.5 per cent after the oil and gas exploration division suffers regulatory disagreements and delays

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US oil boom faces costs pressure

Source: Financial Times, 14th October 2013

Effort required to squeeze oil out of the rock means shale production is relatively high cost, compared with cheap-to-extract reserves of Middle East

Read the full article on FT.com