Commodities

An investigation into BP plc’s commodities trading activities has been widened by U.S. authorities to include its U.S. crude oil and storage business activities, according to company filings with the Securities and Exchange Commission (SEC).

An investigation into BP plc’s commodities trading activities has been widened by U.S. authorities to include its U.S. crude oil and storage business activities, according to company filings with the Securities and Exchange Commission (SEC).

Constellation Energy Commodities Group Inc. (CCG) late last week announced a short-term liquefied natural gas (LNG) regasification agreement with Freeport LNG Development LP to allow it to access LNG capacity at the terminal now under construction near Freeport, TX.

Constellation Energy Commodities Group Inc. (CCG) on Friday announced a short-term liquefied natural gas (LNG) regasification agreement with Freeport LNG Development LP to allow it to access LNG capacity at the terminal now under construction near Freeport, TX.

Due to increased profitability at its commodities business, San Diego-based Sempra Energy said Wednesday it expects full-year 2006 earnings from continuing operations, excluding impacts related to asset sales, to exceed $4 per share, a significant increase over the company’s previous estimate of $3.50 to $3.70. The company noted that final year-end and fourth quarter results will be announced on Feb. 22.

The Commodity Futures Trading Commission (CFTC) filed charges against the American Energy Exchange (Amenx) and York Commodities for allegedly defrauding customers out of $1.39 million by falsely claiming to run an online energy exchange for futures and options contracts. The CFTC said no such exchange exists, the addresses and phone numbers of the purported operators are false and the companies that are listed as members of Amenx have “never heard of Amenx.”

The Commodity Futures Trading Commission (CFTC) filed charges against the American Energy Exchange (Amenx) and York Commodities Monday for allegedly defrauding customers out of $1.39 million by falsely claiming to run an online energy exchange for futures and options contracts. The CFTC said no such exchange exists, the addresses and phone numbers of the purported operators are false and the companies that are listed as members of Amenx have “never heard of Amenx.”

Aging infrastructure, growing demand for gas and other commodities and liquefied natural gas (LNG) terminal development all mean that changes are under way in the midstream energy sector, according to Standard & Poor’s Ratings Services.

IntercontinentalExchange (ICE) reported Wednesday that its year-long technology development effort aimed at enhancing the performance of its electronic platform for commodities trading was a success, noting that the platform’s processing speed improved 1,700% over the course of the program.