Tag: Spain

DataGenic celebrates 15 Years in Business

London, 23rd May 2017 –DataGenic Ltd has reached a significant milestone, celebrating 15 years in business. From the original aspirations of the co-founders as a start-up in May 2002, DataGenic now has physical operations in three continents, with a combined total of 115 employees based in Spain, UK, India and the USA, supporting the global client base around the clock “It’s been an incredible journey so far and one that has touched every emotion that is typical in entrepreneurs building a company from scratch. A common thread from the outset has been the refusal to accept the norm, to think... continue reading

Gas balancing rollout in Italy and Spain sees liquidity moving in opposite direction

On October 1 2016, new gas balancing schemes were rolled out in Italy and Spain to align the two countries gas hubs with European standards. Following the first month of implementation, liquidity seems to have been effected in different ways on the two gas markets with the Italian PSV hub seeing a boost in OTC spot trading while the Spanish PVB gas hub saw volumes picking up on the official exchange, the MIGAS platform. New balancing scheme pushes OTC intraday volumes higher in Italy In Italy, according to traders polled by S&P Global Platts, the new balancing setting has boosted... continue reading

Germany’s BayWa prepares for high-frequency trading risk

(Reuters) German agricultural trading group BayWa AG is teaming up with a technology firm to counter the potential risks it sees from high-frequency trading in agricultural commodities. BayWa said it has no plans to start high frequency trading itself, but will work with an unnamed Munich-based technology company as part of its risk management. “Risks from high-frequency trading programmes have been apparent in other sectors such as equity dealing in past years and…are now becoming apparent in agricultural commodities,” a BayWa spokeswoman told Reuters on Wednesday. “We need to face this challenge and strengthen our capability with additional expertise.” This... continue reading

The changing face of Europe’s flat steel industry

As China looks set to create the world’s second largest steelmaking company through the merging of Baosteel and Wuhan I&S, Europe’s steel industry is on the brink of a pair of mergers that would genuinely transform the region’s industry. Assuming Tata Steel and ThyssenKrupp combine, and ArcelorMittal is successful in its pursuit of Ilva, what would the newly consolidated European flat steel industry look like? Unlike the US steel market, Europe’s industry is far more segregated, meaning pricing power is spread far more thinly and easier to undermine. There has traditionally been a premium between northern and southern European prices... continue reading

Cepsa Trading Selects DataGenic for Commodity Data Management

Advanced data management functionality, forward curve construction and aggregated data feeds essential for the Cepsa Group strategic and operational activities. London, UK (October, 8th 2015) DataGenic has announced today that Cepsa Trading has chosen DataGenic as a long term partner to support its worldwide oil and refined products supply and trading subsidiary. Cepsa Trading will use DataGenic’s enterprise class software to support its oil and refined products trading activities together with system integration with the Company’s ETRM platform. A wholly-owned subsidiary of the International Petroleum Investment Company (IPIC), Cepsa Group employs more than 10,500 people and operates at every stage... continue reading

Oman exports more LNG in move with implications for oil

Over the past two years, Oman has quietly expanded the number of countries to which it exports LNG to well beyond those with which it has long-term supply contracts. In a state that needs increasing gas volumes to fuel its oil and heavy industrial sectors, this raises far-reaching questions about energy strategy. To be sure, Oman’s government two decades ago saw LNG production as an important means of diversifying the sultanate’s economy and move state revenues away from heavy dependence on crude oil exports. A total of 10.4 million mt of LNG production and export capacity was duly developed at... continue reading

Top 10 Energy & Risk News Highlights | June 2015

 The goal of this series is to provide a brief list of the top news stories each month for the energy and commodities trading and risk management industries. These stories come from some of the industry’s top sources, spanning from Bloomberg Businessweek to Oilprice.com. Here’s What Happened in June: Supreme Court: EPA erred in rule on toxic emissions from power plants Few Echo Pope’s Environment Plea in Sunday Sermons Obama’s $4bn clean-energy initiative: a big number hiding a bigger idea The World Is Facing Its Longest Oil Glut in at Least Three Decades European Markets Mixed on Greece Default Concerns... continue reading

Unravelling the Real Story Behind European Power Demand

London, April 2015 See the effects of recent economic events on electricity demand across Europe and what this shows about demand elasticity and power-to-GDP intensity. Turbulent economic events over the last ten years have fundamentally reshaped the European electricity industry. While it is no surprise that electricity demand has reacted strongly to these changes, particularly in the industrial and commercial sectors, the response has by no means been uniform across countries like Germany, Spain, and Greece. The different responses from different countries illuminate details about their relative demand elasticity and the power-to-GDP intensity. Since 2012, European power demand has continued to... continue reading

New U.S. supply to cut LNG trade margins sharply-E.ON

(Reuters) by Oleg Vukmanovic – Trading margins on spot liquefied natural gas (LNG) cargoes may whittle down to a matter of cents rather than dollars once all new contracted U.S. supply comes on stream later this decade to overwhelm forecast demand, E.ON’s head of LNG trade said. Luis Sanchez was speaking in a panel discussion with trading managers from BP, and GDF Suez at the Flame gas conference in Amsterdam on Monday. Another option is that trading companies will be competing to incur the least painful loss on trades, let alone a profit, contrasting with the reputation for high-margin trading... continue reading

E.ON España selects the Allegro 8 platform for Power and Natural Gas Position Control Management

London, April 8th, 2015 – Allegro Development Corporation has announced today that E.ON has chosen the Allegro 8 platform to support its retail business in Spain. E.ON España will use Allegro’s enterprise class software to manage its power and natural gas positions, the complexities of the Spanish power market, the impending regulatory changes and the volatility of the energy trading market. E.ON España, which distributes around 6.8 TWh to more than 650,000 customers, is looking for significant improvements in their portfolio visibility, which will lead to more effective decisions regarding price, counterparty and liquidity exposure management and hedging strategies. The... continue reading

A stark moment of truth for Europe’s power plants

A mirthless laugh from Enel CEO Francesco Starace greeted Platts’ question on European power markets March 18. The Italian utility likes to do things in style, flying in dozens of immaculate assistants and glamorous foreign correspondents for its annual investor day, laying on breakfast and lunch for the assembled hacks and analysts. Enel put on a confident show, upbeat even, but there was a specter at the feast this year in the form of a six billion Euro impairment loss. The black hole in Enel’s accounts included a €3 billion haircut in the value of up-for-sale Slovak utility Slovenske elektrarne,... continue reading

European power trading volumes fell 1 pct in 2014 – Prospex

(Reuters) by Vera Eckert – European wholesale power trading volumes in 2014 fell 1 percent on the year, to be 22 percent below 2010’s peak, as over-supply reduced price volatility and limited chances for big profits, research company Prospex said. In an analysis of markets in Germany, the Nordic region, Britain, Italy, Spain, France and the Netherlands, Prospex found trading volumes on exchanges and the over-the-counter market slipped to 8,517 terawatt hours (TWh), down from the historic peak of 10,924 TWh in 2010. The report, due to be published in full on Tuesday, said a rise in renewable energy capacity... continue reading

EEX: First exchange trade in Spanish Power Futures

Leipzig, 27 Feburary 2015 The European Energy Exchange has recorded the first exchange trading transactions in Spanish Power Futures. The trades were concluded in the new short-term maturities which have been available at EEX since the beginning of this week. On Monday, EEX expanded its existing offering in the Power Derivatives Market with the launch of day and weekend futures for France, Italy and Spain. Read More... continue reading

CEPSA Trading selects the Allegro 8 platform for Energy Trading & Risk Management

Physical and financial crude oil and refined products functionality essential to optimise upstream and downstream activities for CEPSA Group London, February 11, 2015 – Allegro Development Corporation has announced today that CEPSA Trading has chosen the Allegro 8 platform to support its worldwide oil and refined products supply and trading subsidiary. CEPSA Trading will use Allegro’s enterprise class software to manage its oil and refined products trading activities across the full transaction lifecycle. A wholly-owned subsidiary of the International Petroleum Investment Company (IPIC), CEPSA Group employs more than 11,000 people and operates at every stage of the hydrocarbon value chain.... continue reading

Aludium opts for Brady’s cloud solution for metals trading and risk management

2nd February 2015, London: Brady plc (BRY.L), the leading supplier of trading and risk management solutions for commodities, recycling and energy, announced today that it will deliver its latest software solution to Aludium, which operates rolling mills in Spain and France. Brady’s software has been designed to meet the risk management objectives of metal fabricators, rolling mills and extruders. It is delivered as a dedicated cloud solution which guarantees the highest level of auditability and security, and can be deployed in less than two months. Aludium will now have access to the latest Brady Metals Trading and Risk Management applications... continue reading

Cheap Oil Burns $390 Billion Hole in Investors’ Pockets

(Bloomberg) by Asjylyn Loder and Elizabeth Dexheimer  – Investors have a message for suffering U.S. oil drillers: We feel your pain. They’ve pumped more than $1.4 trillion into the oil and gas industry the past five years as oil prices averaged more than $91 a barrel. The cash infusion helped push U.S. crude production to the highest in more than 30 years, according to data compiled by Bloomberg. Now that oil prices have fallen below $46, any euphoria over cheaper energy will be tempered by losses that are starting to show up in investment funds, retirement accounts and bank balance... continue reading