Gary Vasey - Author Archive

Drill, China, drill: State majors step on the gas after Xi calls for energy security

SINGAPORE/BEIJING (Reuters) – China’s state energy giants are set to raise spending on domestic drilling this year to the highest levels since 2016, focusing on adding natural gas reserves in a concerted drive to boost local supplies. Responding to President Xi Jinping’s call last August to boost domestic energy security,... continue reading

OPEC oil output drops on Saudi cut, outages and sanctions

LONDON (Reuters) – OPEC oil supply has fallen in January by the largest amount in two years, a Reuters survey found, as Saudi Arabia and its Gulf allies over-delivered on the group’s supply-cutting pact while Iran, Libya and Venezuela registered involuntary declines. The 14-member Organization of the Petroleum Exporting Countries... continue reading

Standard Chartered implements dltledgers blockchain platform for trade finance

GTR – Standard Chartered has implemented a new blockchain-based platform to finance commodity trading companies’ supply chains, with other international banks set to follow. The bank has announced it has completed a supplier finance transaction on dltledgers, a Hyperledger Fabric-based platform that enables traders to connect to their supply chain... continue reading

Baringa launches North American Energy & Utilities advisory practice

31 January 2019 Baringa Partners, the international and award-winning management consultancy, continues to expand its global reach by opening a North American Energy & Utilities hub, led by industry veteran David Shepheard. Baringa have over two decades of experience in supporting Europe’s energy industry through unprecedented transformation. We support energy... continue reading

Concord Resources Rolling Out Gen10 Commodity Manager for Metals and Concentrates

A few months ago, after talking with Gen10, I wrote about the broadening choice in metals for CTRM. Recently, I got an update and learned that Gen10 has been working extensively with Concord Resources to implement its Commodity Manager solution for refined metals and concentrates. I spoke with Gen10’s Gustaf... continue reading

Tug-of-war: U.S. refiner Citgo caught in Venezuela political upheaval

CORPUS CHRISTI, Texas (Reuters) – Citgo Petroleum Corp, the eighth largest U.S. refiner and Venezuela’s top foreign asset, is in the middle of a tug-of-war as the Trump administration tries to use the company as leverage to topple Venezuelan President Nicolas Maduro. Following the U.S. decision to impose sanctions on... continue reading

Next Generation Fusion CTRM Software selected by South32

Singapore – 26th of November 2018 Fusion CTRM solution has been selected by global mining and metals company, South32, to assist with its marketing, supply chain operations and risk management business requirements. A competitive CTRM selection process involved all the leading CTRM vendors and included demonstrations, scenario-based workshops, and a... continue reading

Brady extends its partnership with BayWa r.e. Clean Energy Sourcing GmbH (BayWa r.e. CLENS), through the implementation of Brady Credit Risk

Brady, the largest European-headquartered provider of trading and risk management software to the global commodity and energy markets, today announced that BayWa r.e. Clean Energy Sourcing, a leading direct marketer and supplier of green energy in Germany, has chosen to implement the latest version of Brady Credit Risk in their... continue reading

Drillinginfo & Rextag Collaborate to Combine Advanced Mapping and Takeaway Capabilities for Midstream Analytics

Austin, TX (January 29, 2018) – Drillinginfo, the leading energy SaaS and data analytics company, has announced a new strategic collaboration with Hart Energy’s Rextag unit, a global infrastructure database and mapping service, to create a combined midstream business product. Maps are critical for analysis in the oil and gas... continue reading

PG&E Corp files for Chapter 11 bankruptcy protection

(Reuters) – Power provider PG&E Corp filed for voluntary Chapter 11 bankruptcy protection on Tuesday, succumbing to liabilities stemming from wildfires in Northern California in 2017 and 2018. The owner of the biggest U.S. power utility has filed a motion seeking court approval for a $5.5 billion debtor-in-possession financing, it... continue reading

Britain’s Retail Energy Segment in Trouble?

An interesting article in Forbes draws attention to the British retail energy segment and the collapse of a 10th independent retailer (Our Power) within a 12-month period. The article by Guarav Sharma draws attention to the plight of independent retailers and their customers in the UK. “A mere five years... continue reading

Hedge funds return to oil as OPEC removes some downside risk

John Kemp – LONDON (Reuters) – Hedge fund managers stepped up their purchases of oil and refined products last week on growing hopes of a U.S.-China trade truce and that the global economy will avoid a severe slowdown in 2019. But fund buying has been concentrated in crude rather than... continue reading

CTRMCenter Gets a Job Board

Before the Christmas holidays, we wrote a blog about how to get the best out of the functionality embedded within CTRMCenter. In that blog, I mentioned we were adding a couple of additional features. Well, the first of those is now up and running – it’s a job’s board. Essentially,... continue reading

Olam to sell off rubber, sugar, wood products, fertilizer business

CEO cites changing consumer values and government policy for strategic shift by JUSTINA LEE, Nikkei  SINGAPORE — Singapore-based commodity trader Olam International announced plans to sell off its rubber, sugar, wood products and fertilizer businesses as part of its 2019 to 2024 business plan meant to streamline its portfolio. The divestments, which will take place... continue reading

Innovation and technology will change the way we feed the world

Cargill focuses on technology, digitalization and R&D to feed the growing population healthy diets within planetary boundaries Cargill  Jan 24, 2019, 14:56 ET MINNEAPOLIS, Jan. 24, 2019 /PRNewswire/ — For more than 150 years, Cargill has been on an unwavering mission to nourish the world. But as the global population grows and consumer... continue reading

Russia says oil price war with U.S. would be too costly

DAVOS, Switzerland (Reuters) – Russia should not unleash an oil price war against the United States but rather stick with output cuts even at the cost of losing market share in the medium term, one of the main Russian architects of a production pact with OPEC said. Since 2017, Russia... continue reading