Patrick Reames - Author Archive

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

The Emergence of the Mega Vendor?

Over the last 25 years or so, the talk around the virtual ComTech water cooler will occasionally turn to the topic of “which vendor or vendors, if any, will emerge as the big fish in the ETRM/CTRM pond?” Many years ago, we saw Caminus making moves in that direction via... continue reading

Aspect provides a client briefing post ION acquisition

Earlier this year, ION sent shock waves through the E/CTRM community as it announced the acquisition of both Aspect Enterprise Solutions and then OpenLink. While merger & acquisitions in the E/CTRM space are nothing new, having a history as long as the software category itself, the move by ION surprised... continue reading

BP pays $10.5 billion for BHP shale assets to beef up U.S. business

MELBOURNE/LONDON (Reuters) by Sonali Paul & Ron Bousso – BP Plc (BP.L) has agreed to buy U.S. shale oil and gas assets from global miner BHP Billiton (BLT.L) (BHP.AX) for $10.5 billion, expanding the British oil major’s footprint in some of the nation’s most productive oil basins in its biggest... continue reading

Energy giants opening natural gas spigots, fueling profit rise

HOUSTON (Reuters) – The world’s largest oil companies are pumping more natural gas than ever before, helping to spur a rise in profits while sating rising global demand for fuels that can mitigate global greenhouse gas emissions. This marks a shift over the past decade for an industry that once... continue reading

ICE to launch Houston oil contract, building on export growth

(Reuters) – Intercontinental Exchange on Tuesday said it would launch a crude oil futures contract deliverable in Houston later this quarter, capitalizing on the growth in U.S. exports of crude oil that have risen to about 2 million barrels a day. Houston has become the pricing center for U.S. crude... continue reading

U.S. shale oil output expected to hit record high in August: EIA

NEW YORK (Reuters) by Jessica Resnick-Ault – U.S. oil output from seven major shale formations is expected to rise by 143,000 barrels a day to a record 7.47 million barrels per day in August, the U.S. Energy Information Administration said in a monthly report on Monday. Production is expected to... continue reading

The fallout in commodities from the U.S.-China Trade war: what’s at stake

BEIJING (Reuters) by Josephine Mason – Washington imposed tariffs on $34 billion of Chinese imports on Friday and Beijing has said it will retaliate with punitive measures on U.S. products worth a similar amount, including soybeans, pork and cotton. The Chinese government had not officially confirmed on Friday afternoon that... continue reading