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Power & Energy Commodity News

Oil groups welcome North Sea tax review

Source: Financial Times, 15th July 2014

Investigation comes as energy industry claims that high taxes are choking exploration and threatening the basin’s long-term future

Read the full article on FT.com

Noble and EIG form Harbour Energy

Hiong Kong, 14 July 2014

Noble Group Limited and EIG Global Energy Partners have announced the formation and commitment to capitalize Harbour Energy, Ltd (“Harbour Energy”), a company that will own and operate upstream and midstream energy assets globally. Harbour Energy will seek to own high quality assets that provide exposure to key supply trends while capturing value up-lift associated with control of offtake, logistics and supply chain management. Noble will be preferred offtake and marketing partner of Harbour Energy, while EIG, together with the company’s internal management team, will serve as manager of the company and oversee the acquisition of assets. Harbour Energy’s capitalization will be funded solely through balance sheet capital of each of Noble and EIG.

Read more: Noble and EIG form Harbour Energy

North Dakota oil groups strike $6bn deal

Source: Financial Times, 14th July 2014

The deal will make Whiting the largest producer in the Bakken, one of the principal centres of the US oil boom powered by advances in hydraulic fracturing

Read the full article on FT.com

Record crop forecast hits soyabeans

Source: Financial Times, 11th July 2014

The US Department of Agriculture raised its estimate of the global oilseed crop by 5.8m tonnes on Friday to a record 521.9m tonnes

Read the full article on FT.com

Euro Commodities markets shift to clearing more visible than ever

London 11 July 2014

This month sees a real crystallisation of the shift to clearing in the Euro commodities markets. The largest Euro Commodity market, NBP, crossed over half of the cleared market share threshold for the first time during June 2014. Euro Gas and Coal also recorded the highest monthly cleared market share: Trayort blog.

Read more: Euro Commodities markets shift to clearing more visible than ever

US natural gas prices touch lows

Source: Financial Times, 11th July 2014

Nymex August gas was priced at $4.148 per million British thermal units on Friday, down 5.9% on the week after hitting a six-month low on Thursday

Read the full article on FT.com

Oil at two-month low on Libya hopes

Source: Financial Times, 11th July 2014

The north African nation, whose coffers have been hard hit by oil revenue losses, this week resumed operations at the Sharara oilfield – Libya’s largest – after protests ended

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Iraq and Libya biggest risks to oil supply

Source: Financial Times, 11th July 2014

Geopolitical uncertainty in several key oil producing regions could upset the relatively benign outlook for crude supply, warns the International Energy Agency

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Watchdog cuts N Sea oil revenue forecast

Source: Financial Times, 10th July 2014

Office for Budget Responsibility cuts forecasts for oil revenues for the next 25 years on the back of disappointing production volumes

Read the full article on FT.com

Favourite emerges in silver fix battle

Source: Financial Times, 9th July 2014

London Metal Exchange has joined forces with technology provider Autilla to make a last-minute revised bid

Read the full article on FT.com