Patrick Reames - Author Archive

Eka Digital CM Platform and the changing CTRM technology paradigm

Last week, we had the opportunity to visit with Mr. Manav Garg, CEO & Founder of Eka, to discuss the company’s recent results, announcements and new developments. Referencing recent Eka press releases, Mr. Garg noted that Eka has already closed deals with 16 new customers in just the first half... continue reading

Drillinginfo Acquires Oildex Expanding Capability by Integrating Financial Automation Solutions

Austin, Texas (September 18, 2018) – Drillinginfo, the leading energy SaaS and data analytics company, has acquired Oildex, the largest oil & gas financial automation software firm in North America. This combination will transform the way the industry connects, collaborates, and automates data exchange for financial transactions and field operations. “By acquiring... continue reading

Coffee producers seek urgent talks with industry on low prices

LONDON (Reuters) by Nigel Hunt – Coffee producers are seeking urgent meetings with major customers such as Nestle, Jacobs Douwe Egberts and Starbucks to find ways to shore up prices that have slid to 12-year lows. The World Coffee Producers’ Forum, whose members account for about 85 percent of global production,... continue reading

BP, Vitol go head to head in West African crude trading

LONDON (Reuters) by Dmitry Zhdannikov – Oil major BP has clashed with rival Vitol in the once-languid West African crude market, buying up cargoes and taking a big derivative position that may have raised costs for European refiners. The West African crude market typically sees cargoes of Nigerian and Angolan... continue reading

Allegro Study: 94 Percent of Commodity Businesses Believe Advanced Analytics are Key to Future Growth

Commodity businesses turn to advanced analytics to manage explosive amounts of data as they face changes in price volatility, geopolitics, and regulatory requirements SINGAPORE, September 12, 2018 – Commodity volatility is increasing at an alarming rate, forcing market participants to adopt new business strategies and implement innovative technologies that enable... continue reading

U.S. crude production rises to record as drilling climbs in Texas: EIA

NEW YORK (Reuters) by Jessica Resnick-Ault – U.S. crude oil production rose 231,000 barrels per day, or 2 percent, to a record 10.674 million bpd in June, the U.S. Energy Information Administration said in a pair of monthly reports on Friday. The agency also revised its estimate for May up... continue reading

iRely is back and finding solid success in Ags and Softs

We had the opportunity to catch-up with iRely recently, visiting with Meetesh Shah, iRely’s president, and Greg Taylor, an experienced and well-respected CTRM executive serving on the company’s board of advisors. For those that may not be familiar with the company, iRely was founded in the early 2000’s as the... continue reading

Enbridge to buy Spectra Energy for $3.3 billion

(Reuters) – Enbridge Inc, Canada’s largest pipeline operator, said on Friday it would buy its U.S. master limited partnership Spectra Energy Partners for a sweetened deal of $3.3 billion. Pipeline companies are reorganizing their business structure after the U.S. Federal Energy Regulatory Commission in March stopped them from claiming an... continue reading

Canada’s ultra-cheap natural gas drives hopes of petrochemical boom

(Reuters) by Rod Nickel – Canada’s gas-rich province of Alberta is looking to recreate the building boom spreading along the U.S. Gulf Coast, where inexpensive natural gas generated billions of dollars in investment by petrochemical companies. The adoption by drillers of fracking technology to unlock oil and gas from shale... continue reading

Copper and the (very) big fund short: Andy Home

LONDON (Reuters) by Andy Home – Peace has broken out in the Chilean copper industry with two major potential labor flashpoints resolved in as many days. Last Friday brought news that the major union at the Caserones copper mine had signed an 11th-hour deal to avert a walk-out. A day... continue reading

Top oil hedge funds suffer big losses after July price plunge: sources

NEW YORK (Reuters) by Devika Krishna Kumar – Two of the world’s largest energy-focused hedge funds, Andurand Capital and BBL Commodities, suffered double-digit percentage losses in July as oil prices plunged by the most in two years, sources familiar with the matter told Reuters on Friday. BBL Commodities Value Fund, run... continue reading

Fuel markets confirm global growth slowdown: Kemp

LONDON (Reuters) by John Kemp – If the global economy starts to grow more slowly, the impact will show up first in the price of refined fuels such as road diesel, marine gasoil and jet fuel that play a central role in the freight transport system. Middle distillate fuels are... continue reading

New fuel rules push shipowners to go green with LNG

LONDON (Reuters) by Jonathan Saul & Nina Chestney – Tough new rules on marine fuel are forcing shipowners to explore liquefied natural gas as a cleaner alternative and ports such as Gibraltar are preparing to offer upgraded refueling facilities in the shipping industry’s biggest shake-up in decades. From 2020, International... continue reading

Thoma Bravo to Acquire Quorum Software

SAN FRANCISCO & HOUSTON–(BUSINESS WIRE)–Thoma Bravo, LLC, a leading private equity investment firm, today announced that it has agreed to acquire Quorum Software (“Quorum” or “the Company”), the leader in digital transformation for the oil and gas industry, from Silver Lake. The transaction is expected to close in the third... continue reading

After soybeans, EU touts U.S. LNG imports to woo Trump on trade

BRUSSELS (Reuters) by Alissa de Carbonnel – The European Union said it was delivering on a deal with U.S. President Donald Trump to buy more U.S. liquefied natural gas (LNG) on Thursday but called on Washington to do more to make its prices competitive. In talks to urge Trump to... continue reading

New wave of mega LNG projects is approaching

LONDON (Reuters) by Dmitry Zhdannikov & Ron Bousso – A new race to build multi-billion dollar liquefied natural gas (LNG) plants is gaining momentum after a long hiatus in investments as energy giants sense a widening supply gap within five years. Spending on new, complex facilities that super-chill gas into liquid... continue reading