Patrick Reames - Author Archive

European regulators: We’re not ready for new privacy law

FRANKFURT/BRUSSELS/PARIS (Reuters) by Douglas Busvine, Julia Fioretti & Mathieu Rosemain – Europe’s General Data Protection Regulation (GDPR) has been billed as the biggest shake-up of data privacy laws since the birth of the web. There’s one problem: many of the regulators who will police it say they aren’t ready yet.... continue reading

China’s iron ore rises on renewed steel output; second day of foreign trade

BEIJING (Reuters) – China’s iron ore futures rose on Monday, the second day the contracts have been open to direct trade by foreign investors, with robust restocking demand amid resuming steel capacity helping to push prices higher. “Downstream demand remains very strong at this moment as construction sites rush to... continue reading

Oil hits highest since November 2014 as Iran tensions mount

NEW YORK (Reuters) by Jessica Resnick-Ault – Oil prices rose about 2 percent on Friday with U.S. crude hitting its highest in more than three years as global supplies remained tight and the market awaited news from Washington on possible new U.S. sanctions against Iran. The May 12 deadline for... continue reading

CFTC fines Glencore Agriculture, Glencore Ltd $2 million for trading violations

(Reuters) – The U.S. Commodity Futures Trading Commission (CFTC) on Monday said it has levied a fine of $2 million against Glencore Agriculture B.V. and Glencore Ltd. for multiple violations under the Commodity Exchange Act and CFTC regulations between January 2013 and November 2015. The two entities held net positions... continue reading

Trump’s revenge: U.S. oil floods Europe, hurting OPEC and Russia

MOSCOW/LONDON (Reuters) by Olga Yagova and Libby George – As OPEC’s efforts to balance the oil market bear fruit, U.S. producers are reaping the benefits – and flooding Europe with a record amount of crude. Russia paired with the Organization of the Petroleum Exporting Countries last year in cutting oil... continue reading

Freeport LNG delays start of Texas export terminal to September 2019

(Reuters) – Freeport LNG, a privately held U.S. liquefied natural gas company, said on Thursday it pushed back the projected start date for its $13 billion export terminal under construction in Texas by about nine months to around Sept. 1, 2019. Freeport LNG now expects the first liquefaction train to... continue reading

EIA – US Coal Exports Increased by 61% in 2017

The United States exported 97.0 million short tons (MMst) of coal in 2017, a 61% (36.7 MMst) increase from the 2016 level. Exports to Asia more than doubled from 15.7 MMst in 2016 to 32.8 MMst in 2017, although Europe continues to be the largest recipient of U.S. coal exports.... continue reading

U.S. shale output to rise by 125,000 bpd in May -EIA

NEW YORK (Reuters) – U.S. shale oil production is expected to increase in May for the fourth consecutive month, U.S. Energy Information Administration data showed on Monday, boosted by record production in the prolific Permian Basin of West Texas and New Mexico. Total oil output is set to rise by... continue reading

The consolidation trend continues – Quorum buys Entero

Quorum announced late last week that they had purchased Calgary-based Entero.  As both companies have had considerable success in their respective markets – Quorum in the US E&P and midstream oil and gas space and Entero in the same segments in Canada – the combining of the two companies does... continue reading

Can China fill aluminum shortage after Rusal sanctioned?

LONDON/MELBOURNE (Reuters) by Eric Onstad and Melanie Burton- Dominant aluminum producer China may help fill a gap in global supply after the United States slapped sanctions on Russia’s aluminum giant Rusal. But a tangle of tariffs will obstruct flows to the United States so aluminum consumers will need to find... continue reading

Allegro announces the acquisition of FEA

Allegro announced this morning that they had acquired energy and commodity risk and analytics firm Financial Engineering Associates (FEA) from MSCI, who had previously bought FEA as part of their acquisition of Barra in 2004.  Founded in 1990, FEA has long been a staple of the energy risk markets, first... continue reading

Visiting with Openlink, now an ION Investment Group company

Now that the acquisition of Openlink by ION has closed, I visited with Openlink’s EVP & CMO Nancy Pearson, and Ken Knowles, EVP of strategy & business development, this morning to get an update. With the the deal having only recently closed about two weeks ago, Ms. Pearson and Mr.... continue reading

CFEnergía Deploys Allegro’s Cloud-enabled CTRM

MÉXICO CITY, April 5, 2018 – Allegro Development Corp. and Essentia Advisors are proud to announce the successful go-live of Allegro’s cloud-compatible commodity trading and risk management (CTRM) software, Allegro Horizon, for their joint client in México, CFEnergía, the national fuels marketing and trading affiliate of México’s Comisión Federal de... continue reading

Value Creed, LLC Appoints Mark Hill as President and CEO

CTRM Industry Veteran Joins Value Creed to Provide Strategic Direction Dallas, TX, April 4, 2018 – Value Creed, LLC, a commodity trading and risk management (CTRM) managed services provider, today announced the appointment of Mark Hill as President and CEO. As CEO, Hill is tasked with architecting the company’s framework... continue reading

OPEC to stick to supply curbs despite oil rally to $71: sources

LONDON/DUBAI (Reuters) by Alex Lawler & Rania El Gamal – OPEC and its allies look set to keep their deal on cutting oil supplies for the rest of 2018, five sources familiar with the issue said, although some producers are starting to worry that high prices may be giving too... continue reading

Eka Sees Rapid Adoption of 3D Stockpile Quality Management Solution

Eka’s Quality Management Solution (QMS) enables site operators to more effectively meet quality standards, increasing profits and saving valuable resources. Eka Software Solutions, the leading global provider of Smart Commodity Management software solutions, announced today that Eka’s Stockpile Quality Management Solution (QMS) has experienced unprecedented acceleration in adoption across 2017... continue reading