Gary Vasey - Author Archive

ENBW RELIES ON AUTOTRADER FROM VISOTECH

autoTRADER supports the flexible marketing of renewable energy Vienna, January 22, 2019 – EnBW Energie Baden-Württemberg AG, one of the largest energy supply companies in Germany and Europe, has chosen VisoTech’s autoTRADER algo trading solution.The company uses the solution for automated energy marketing, flexibility marketing of renewable energy and as... continue reading

Life is about Parallels

It was 1996. Houston was hot and humid as usual as I drove up to start my new job with TransGas Management Inc. I had come across TransGas along with many of the other early gas management application vendors in my role as GM, Energy & Utilities for Sybase. I’d... continue reading

CANADIAN START UP GRAIN DISCOVERY EXECUTES WORLD’S FIRST CORN TRANSACTION USING BLOCKCHAIN

New tech start-up Grain Discovery will revolutionize how farmers trade their grain. The way grain is bought and sold hasn’t changed much since our grandparents were farming! In the age of Amazon and eBay, we reckoned the industry deserves better.” — Rory O’Sullivan, CEO of Grain Discovery PRINCE EDWARD COUNTY,... continue reading

Bad bets on oil, gas spark wave of energy-fund closures

NEW YORK/HOUSTON (Reuters) – Energy fund managers took heavy losses last year with wrong-way bets on the prices of oil and natural gas, leading to a wave of closures in the volatile fund sector. The number of active energy-focused funds fell to just 738 in 2018 through September from about... continue reading

Oil prices slip as U.S. crude output nears 12 million bpd

SINGAPORE (Reuters) – Oil prices fell on Thursday as U.S. crude production neared an unprecedented 12 million barrels per day (bpd) just as worries about weakening demand emerge. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $51.92 per barrel at 0752 GMT, down 39 cents, or 0.8 percent,... continue reading

Suddenly, Consortia are Actually Delivering

Over the last, what is it now… 35-years in the energy and commodity industry, I have rarely seen participants in the industry work together for their common good. On initiative that I was very familiar with and involved in was POSC  (Petrotechnical Open Software Corporation), an industry-funded initiative to develop standard... continue reading

MineHub Technologies Collaborates with IBM to Introduce Global Mining and Metals Supply Chain Solution using Blockchain Technology

Goldcorp, ING Bank, Kutcho Copper, Ocean Partners and Wheaton Precious Metals Collaborate with MineHub on Industry-Wide Approach to Enhance Efficiency in Mining VANCOUVER, British Columbia and ARMONK, N.Y., Jan. 16, 2019 /PRNewswire/ — MineHub Technologies, Inc. (“MineHub”) and IBM (NYSE: IBM) today announced a collaboration to use blockchain technology to help improve operational efficiencies, logistics and financing... continue reading

VAKT adds Chevron, Total S.A. and Reliance Industries as investors

LONDON – January 16, 2018, – VAKT, the company re-imagining commodity post-trade processing underpinned by blockchain, today announces investment from three new strategic investors: Chevron, Total and Reliance Industries, who will also become early users of VAKT’s blockchain-enabled platform. With their investment, the three new investors join the existing consortium participants to... continue reading

ALLEGRO INTRODUCES NEW VERSION OF AGRICULTURE CTRM SOFTWARE

Delivers Advanced Risk Management, Enhances P&L Valuation and Reporting, and Better Manages the Production to Inventory Process SINGAPORE, Jan 15, 2019 – Allegro Development Corp., the global leader in commodity trading and risk management (CTRM) software with advanced analytics, today announced its newest version of the company’s agriculture CTRM software,... continue reading

Drillinginfo Acquires MineralSoft to Expand Focus on Managing Mineral and Non-operated Interests

Targets $1 trillion asset class with differentiated technology solution Austin, Texas (January 15, 2019) – Drillinginfo, the leading energy SaaS and data analytics company, announced today it has acquired MineralSoft, a software platform designed to make managing mineral, royalty, and non-operated working interests easier and more profitable. Collaboration between Drillinginfo... continue reading

Oil prices expected to stay anchored around $65-70 through 2023: Kemp

LONDON (Reuters) – (John Kemp is a Reuters market analyst. The views expressed are his own.) Oil prices are expected to oscillate close to current levels well into the next decade, averaging around $65-70 per barrel through 2023, according to an annual survey of energy professionals conducted by Reuters. Despite... continue reading

E-World Coming Up!

Anyone in the European energy and utility industry seems to make an annual migration to Essen each February. Actually, no offense to Essen, but it is just about the most boring place on the planet and E-World may well be the only reason to ever visit it. This year, Patrick... continue reading

Eka adds 25 new client logos in 2018

COMMODITY BUSINESSES ACROSS MARKETS SHIFT FROM MONOLITHIC, LEGACY SYSTEMS TO EKA’S MODERN DIGITAL COMMODITY MANAGEMENT PLATFORM Leading global provider of commodity management solutions, Eka Software, confirmed that 2018 marked a significant change in global commodity trading as both medium and large market participants embraced new technologies and moved to more linked,... continue reading

TriOptima Sets New triReduce Record: $250 Trillion Gross Notional Value Compressed at LCH SwapClear During 2018

Mon Jan 14 2019 LONDON and NEW YORK, Jan. 14, 2019 /PRNewswire/ — TriOptima, the leading multilateral compression provider that lowers costs and mitigates risk in OTC markets, today announced that it has set a new record for its triReduce portfolio compression service. In 2018, TriOptima compressed $250 trillion gross notional value of trades at LCH SwapClear, an annual... continue reading

Rio Tinto calls force majeure on some iron ore shipments after fire in Australia

MELBOURNE (Reuters) – Rio Tinto said on Monday it has declared force majeure on iron ore shipments to some customers following a fire at its Cape Lambert export terminal in Australia last week. The miner closed part of the terminal’s operations after the fire on last Thursday. “Rio Tinto is... continue reading

SAP – Blockchain in the Energy Sector: Potential for Energy Providers

What opportunities does blockchain technology offer the energy sector? Will it lead to new business models and more efficiency? A study by SAP, the German Association of Energy and Water Industries (BDEW), and the Fresenius university provides some insight. Everyone has been talking about blockchain for some time now. The... continue reading