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Patrick Reames - Author Archive

World’s top LNG buyers form alliance to push for flexible contracts

By Jane Chung, Yuka Obayashi and Oleg Vukmanovic | SEOUL/TOKYO/MILAN The world’s biggest liquefied natural gas (LNG) buyers, all in Asia, are clubbing together to secure more flexible supply contracts in a move which shifts power to importers from producers as oversupply grows. Korea Gas Corp (KOGAS) said on Thursday... continue reading

New projects, shale boom could trigger oil oversupply by 2018-19: Goldman

New production projects and a fresh shale boom could boost oil output by a million barrels per year and result in an oversupply in the next couple of years, according to Goldman Sachs. “2017-19 is likely to see the largest increase in mega projects’ production in history, as the record... continue reading

The Risks Keep Evolving

As I’m sure you’ve noticed on this page, ComTech is currently conducting a snapshot survey looking at risk and risk management in energy and commodity trading.  We’ve done other risk and risk-related studies over the years, both as ComTech and as our predecessor organization, CommodityPoint. However, in the global commodities... continue reading

Oil slides again, set for biggest 3-day loss in a year

By David Gaffen | NEW YORK Oil skidded again on Friday, pushing prices to three-month lows as investors continued to flee bullish positions on worries that OPEC-led production cuts have not yet reduced a global glut of crude. U.S. crude has slumped nearly 9 percent since Tuesday’s close, in what... continue reading

China’s ‘blue skies’ dreams mean red flags for industrial metals: Andy Home

By Andy Home | LONDON “We will make our skies blue again”. That was the rallying call issued by Chinese Premier Li Keqiang at the start of the country’s annual meeting of parliament. Any lingering doubts that air pollution has moved to the very top of Beijing’s political agenda should... continue reading

The Shale Industry Is Scrambling to Catch Up to Its Own Boom

(Bloomberg) by David Wethe – Five years ago, the thought of $55-a-barrel oil would have given Piotr Galitzine heartburn. Now it’s keeping one of his steel-pipe shops in Houston open 24/7 and fueling a flurry of orders. It’s stoking business for National Oilwell Varco Inc. too, with the oilfield-equipment giant... continue reading

India looks for ‘right prices’ to boost LNG, crude imports from U.S.

By Marianna Parraga | HOUSTON India might increase imports of liquefied natural gas (LNG) from the United States at the right price, the oil minister said on Monday, even though some buyers in the South Asian country are trying to get rid of costly U.S. supplies. India’s state-run company GAIL... continue reading

Molecule Software – a different and potentially disruptive company and product

I visited with Sameer Soleja, head of Molecule Software, this week to get an update on their recent developments and get a look at the latest generation of their product.  As I’ve noted in the past writings about the company, Sameer and his team do pride themselves on being different,... continue reading

U.S. shale producers renew their challenge to OPEC: Kemp

By John Kemp | LONDON U.S. crude oil production appears to be rising strongly thanks to increased shale drilling as well as rising offshore output from the Gulf of Mexico. Production averaged almost 9 million barrels per day (bpd) in the four weeks to Feb. 24, according to the latest... continue reading

Thinking about CTRM Architecturally – A new ComTech Whitepaper

Over the last 20-years, CTRM solution providers have worked diligently to improve their product capabilities and expand their market reach, with some seeking to bring to market an “all singing, all dancing” solution that would get them in the door at just about any prospect of decent size that transacted... continue reading

Reuters Exclusive: ICE talking to former LME chief about new metals platform

By Pratima Desai and Clara Denina | LONDON Intercontinental Exchange (ICE) (ICE.N) is looking into setting up a London-based metals trading system, industry sources familiar with the matter said, more than four years after its ailed attempt to buy the London Metal Exchange The sources said New York-listed ICE is... continue reading

U.S. shale revival likely to cap oil price gains: Kemp

By John Kemp | LONDON U.S. shale producers are growing production again, renewing the challenge to OPEC’s market share and potentially limiting further increases in oil prices during 2017/18. U.S. crude and condensate production increased in both October and November, the first back to back increases since early 2015, according... continue reading

Visiting with Enuit

I had the opportunity to visit with David Meyers, co-founder and CEO of Enuit LLC, this afternoon to get an update on his company’s recent activities and the overall state of the market from his perspective.  Though the Houston-based company may not be the most well-known of the many CTRM... continue reading

Commodity Deals Show China Flexing Muscles in Trading Clout Hunt

(Bloomberg) China’s stepping up its campaign for greater clout in global commodities trading. The Asian nation’s state-run Sinochem Group is said to be in early talks to become a strategic investor in embattled commodities trader Noble Group Ltd. A potential deal could give the Chinese oil and chemicals behemoth access... continue reading

California demand for wind power energizes transmission firms

By Nichola Groom | LOS ANGELES A firm controlled by Philip Anschutz, the billionaire entertainment and pro sports magnate, will soon build the largest wind farm in the United States to serve utilities in California, where officials have set ambitious green power goals. The $5 billion project, however, will be... continue reading

Fake receipts at Glencore warehouse unit triggered sector credit freeze, Qingdao shivers: sources

By Melanie Burton | MELBOURNE Some global banks briefly froze credit lines for Singapore metal traders last month after a unit of commodities giant Glencore uncovered fake warehousing receipts, people familiar with the matter said, reviving the specter of a $3 billion scandal that rocked the trading world three years... continue reading

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