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Patrick Reames - Author Archive

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

China forecasts corn imports at decade low, spooking exporters

By Hallie Gu and Dominique Patton | BEIJING China’s forecast on Thursday of a drop in corn imports to their lowest in at least a decade may end a years-long bonanza for global merchants and producers as maize prices in the world’s biggest grains market have dropped below global prices.... continue reading

Revamping Dodd-Frank a ‘this-year priority’: U.S. lawmaker

The chairman of the U.S. Financial Services Committee told CNBC on Tuesday that revamping the 2010 Dodd-Frank Wall Street reform law remained a “this-year priority” for President Donald Trump, Vice President Mike Pence and House Speaker Paul Ryan. Republican Representative Jeb Hensarling said he would soon reintroduce his legislation that... continue reading

U.S. oil rig count rises to highest since October 2015: Baker Hughes

U.S. energy companies added oil rigs for a 13th week in the last 14, extending a nine-month recovery as drillers take advantage of crude prices that have held mostly over $50 a barrel since OPEC agreed to cut supplies in late November. Drillers added 17 oil rigs in the week... continue reading

Eka Software Sees Increased Adoption of Cloud Offering

75 percent of new customers choose cloud-based platform. Eka Software Solutions, the leading global provider of Smart Commodity Management software solutions, announced today the rapid expansion of Eka Cloud solutions, its cloud-based commodity trading and risk management software solutions for commodities companies in the energy, agriculture, manufacturing, and metals industries.... continue reading

Aquilon Energy Services raises $19 million during Series B financing round

PRNewswire — Aquilon Energy Services Inc., developer of the first collaborative cloud-based platform that enables buyers and sellers to automatically settle both physical and financial energy transactions, has raised $19 million during a Series B financing round. The Series B financing round includes investments from Citi, Goldman Sachs Principal Strategic... continue reading

Eka Software Experiences Significant Growth in 2016

Eka Software Solutions, the leading global provider of Smart Commodity Management software solutions, today announced 35 percent increased sales in 2016 and 80 percent jump in EBITDA, marking another strong year of growth for the company. – Eka expanded its leadership position in agriculture commodity markets, growing new name customers... continue reading

CME Group suspends trading in European cocoa contracts

Jan 23 CME Group Inc will suspend trading in all CME Europe cocoa contracts starting with the May 2017 contract, the company said on Monday. The CME euro-denominated cocoa contract was launched on March 30, 2015, but volumes and open interest remained low and the new market never mounted a... continue reading

Well, that was fast…

Coming out of the election, almost everyone I know was wondering if Trump’s pre-election platform positions on energy policy would come to fruition.  Well, whether you like him and his policies or not, you do have to say that early indications are that he appears to be a man of... continue reading

London Metal Exchange CEO resigns after a difficult year

By Pratima Desai and Michelle Price | LONDON Lower trading volumes and a lack of strategy created a crisis that led to the resignation of London Metal Exchange Chief Executive Garry Jones after three years at the helm of the world’s largest and oldest metals market, metal industry sources say.... continue reading

U.S. shale oil and gas sector surges back to life: Kemp

By John Kemp | LONDON The number of rigs drilling for oil and gas in the United States has recorded the largest one-week increase for over five years, confirming a rapid upturn is now underway. The number of active oil and gas rigs jumped by 35 to 694 last week,... continue reading

Big Oil back on the acquisition trail as outlook brightens

By Ron Bousso | LONDON The world’s top oil companies are back in acquisition mode, targeting smaller exploration and development firms to boost oil and gas reserves rather than the mega-mergers that followed previous slumps in crude prices. Since late November, major oil companies have announced 11 deals worth more... continue reading

OPEC output cuts under scrutiny as market tightens: IEA

By Christopher Johnson | LONDON World oil markets are slowly tightening as demand rises while investors wait to see if production cuts agreed by OPEC and other producers will be implemented as promised, the International Energy Agency (IEA) said on Thursday. In its monthly oil market report, the IEA said... continue reading

Trayport Contigo ETRM / CTRM
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