Shell
Shell derivatives exposure rose by $15bn in 2021
Over 93% of the oil giant’s derivatives instruments were designated as current
Energy Risk Commodity Rankings: firms provide a lifeline in choppy waters
Winners of the 2021 Energy Risk Commodity Rankings supported clients in unprecedented times to be voted counterparties of choice
Shell bides time over Isda fallbacks
Oil major will adopt Isda protocol as “insurance policy” despite hedge accounting concerns
How Shell integrated FX algos into its corporate treasury mix
Interview: oil giant puts up to 50% of spot flows through algos, explains FX head Michael Dawson
Oil funds want to reduce risk. Will investors let them?
Despite posting big losses, funds that track front-month contracts remain popular with investors
Calls to hike climate policy raise risk for oil firms
A ramp-up in policy could place more oil and gas assets under threat of stranding
Electric vehicles: a slow-motion car crash for oil firms?
Could electric vehicles be as disruptive to oil and gas firms as renewables are to utilities, and are energy firms taking the risk seriously enough?
On hedging, BP and Shell set different timelines
Shell has much larger share of derivatives classified as current than BP
Ripple effect: The impact of moving away from Libor
The shift from Libor to an alternative risk-free rate will require considerable cost and effort, and the sooner the market takes action the fewer and lesser the risks associated with transition will be. A forum of industry leaders discusses key topics,…
Risk evolves in springtime of energy spin-offs
New risk management challenges as firms split legacy fossil-fuel operations from renewable-focused areas
In ongoing drive, Shell slashes debt by almost $8 billion
Gearing ratio down 220 basis points year to year
People: Shell’s Quartermain replaces Muller
Other moves at Morgan Stanley, Gunvor, Macquarie and others
Energy firms raise concerns over CFTC capital rules
Commercial swap dealers might not qualify for a treatment designed specifically for them
People: Noble shuffles board in wake of Elman exit
Shell swaps trading chiefs; ex-Dreyfus head joins Cofco; Glencore adds Aberdeen’s Gilbert to board
People: Giancarlo makes new appointments at the CFTC
Recent changes at the CFTC, Ferc, Shell, LME, TriOptima, Blank Rome, Ice Clear Europe, Goldman and the DTCC
EU energy firms fret over ‘massive’ impact of CRD IV
Regulators should adjust capital regime for asset-heavy commodity companies, conference hears
Shell compliance chief rues ‘perverse outcome’ of Mifid II
New EU rules may fragment liquidity and spur regulatory arbitrage, conference hears
Shell may shift trading to US or Singapore over Mifid II
Oil major Royal Dutch Shell is exploring “all possible options” for compliance with Mifid II, including migrating trading activity to countries outside the EU, a company official says
Revenue put options gain popularity in US power markets
Dealers, led by Morgan Stanley, have made revenue put options an increasingly popular hedging tool with US electricity firms seeking to build new power plants. But some observers warn that the largely untested product contains risks for dealers and their…
Mifid II must recognise that commodities are different
Mifid II is one of the most significant pieces of post-crisis financial reform, and threatens to engulf commodity trading firms in rules aimed squarely at financial services firms