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Power & Energy Commodity News

Ofgem proposes "once and for all" UK energy market investigation

London, 27 March 2014

Ofgem has today acted to remove uncertainty from the energy market by proposing a market investigation by the Competition and Markets Authority (CMA). A market investigation will once and for all clear the air and allow the CMA to ensure that there are no further barriers to effective competition. An investigation would reassure consumers and complement Ofgem’s reforms for a simpler, clearer and fairer energy market. 

Read more: Ofgem proposes "once and for all" UK energy market investigation

Mexico opens deep water oilfields to tender

Source: Financial Times, 26th March 2014

The energy ministry is combing through a 68-page wishlist of fields that Pemex, the state oil company which has held a 76-year monopoly on the industry, wants to keep

Read the full article on FT.com

Gazprom deal in Germany raises alarm

Source: Financial Times, 26th March 2014

A little-noticed deal involving Gazprom is raising alarm and leading to questions about Germany’s dependence on energy from Gazprom

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BP refinery leaks oil into Lake Michigan

Source: Financial Times, 25th March 2014

Incident comes four years after Deepwater Horizon tragedy which killed 11 workers and triggered the worst offshore oil spill in US history

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US gas exports seen as bargaining chip

Source: Financial Times, 24th March 2014

Ukraine crisis prompts nations to intensify lobbying for the US to ease restrictions on gas exports which would give leverage in negotiations with Gazprom

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Bullish Chevron to outspend Exxon

Source: Financial Times, 24th March 2014

Chevron’s investment plan is rooted in a positive view of the oil price, based on rising costs, decline in mature fields, and growing global demand

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Newedge adds to Energy Desk

New York, 24 March 2014

Newedge, a global leader in multi-asset brokerage and clearing, today announced the appointment of Edward Kevelson as Head of US OTC Energy. Based in New York, he will report to Robert Vujtech, Global Head of Energy.

Read more: Newedge adds to Energy Desk

Trafigura’s co-founder to step down

Source: Financial Times, 24th March 2014

The leadership changes highlight a ‘key-man risk’, a problem for commodities houses, where many executives are closely associated with the company

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Sinopec speeds up shale gas development

Source: Financial Times, 24th March 2014

Oil and gas company aims to produce 10 bcm by 2017 from field and lead China’s drive to cut reliance on imports by mimicing US shale revolution

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Oil trader Vitol flags tough markets

Source: Financial Times, 24th March 2014

Vitol, the world’s biggest oil trader, says markets remain ‘extremely competitive’, while Trafigura names Jeremy Weir as its new chief

Read the full article on FT.com