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Power & Energy Commodity News

Nigeria’s oligarchs hit by oil price drop

Source: Financial Times, 3rd March 2015

Africa’s richest man sees $5.4bn wiped off his estimated $21bn personal fortune

Read the full article on FT.com

Clear EM winners and losers from oil price decline

London, 3 March 2015

ING Investment Management sees clear winners and losers within the Emerging Markets (EM) universe as a result of the drop in oil price, which is a positive for consumers who will enjoy lower prices and more spending power. However, uncertainty still remains regarding the causes of the oil price fall and the impact it will have in many Asian countries that have a strong savings culture and have recently repealed fuel subsidies.

Read more: Clear EM winners and losers from oil price decline

LME aims to limit warehouse payments

Source: Financial Times, 2nd March 2015

Exchange tackles monetary incentives to attract metal by warehouse owners

Read the full article on FT.com

Oil rig count decline continues to slow

London, 2 March 2015

The US oil rig count declined this week by 33 rigs (29 horizontal, 3 vertical and 1 directional). Goldman Sachs report that while this marks the second consecutive week of modest rig count decline, unlike last week: (1) the Permian horizontal rig count resumed its decline and (2) the rig count featured little evidence of high grading (higher rig count in the more productive counties). The current US horizontal and vertical rig count across the Permian, Eagle Ford, Bakken and Niobrara shale plays implies that US oil production growth will reach 385 kb/d yoy by 4Q15, according to Goldman, down 55 kb/d vs. last week’s rig count (with the prior three weeks implying declines in production growth of 60, 130 and 160 kb/d).

Read more: Oil rig count decline continues to slow

Wood Mackenzie seeks £2bn listing

Source: Financial Times, 1st March 2015

Energy consultancy valuation adds to pressure on suitors to raise bids

Read the full article on FT.com

Vedanta to cut debt despite oil plunge

Source: Financial Times, 1st March 2015

Anil Agarwal’s India-focused resources group responds to fall in commodities

Read the full article on FT.com

EEX: First exchange trade in Spanish Power Futures

Leipzig, 27 Feburary 2015

The European Energy Exchange has recorded the first exchange trading transactions in Spanish Power Futures. The trades were concluded in the new short-term maturities which have been available at EEX since the beginning of this week. On Monday, EEX expanded its existing offering in the Power Derivatives Market with the launch of day and weekend futures for France, Italy and Spain.

Read more: EEX: First exchange trade in Spanish Power Futures

Rig idling near 20-year high, say drillers

Source: Financial Times, 26th February 2015

Offshore operators warn of two-year oil industry slowdown in wake of crude price plunge

Read the full article on FT.com

Repsol weathers crude price plunge

Source: Financial Times, 26th February 2015

Profits treble in fourth quarter thanks to strong refinery operations

Read the full article on FT.com

US shale town ‘hurting bad’ in oil slump

Source: Financial Times, 26th February 2015

US producers retrench after near halving of crude prices since the summer

Read the full article on FT.com