05.07.2009
A type of energy exchange in which quantities of crude oil or any petroleum product(s) are received or given up in return for other crude oil or petroleum products. It includes reciprocal sales and purchases.
Allows holders of crude futures to swap the contract for physical crude
When companies swap quantities of gas, from different locations, or different development times. A type of energy exchange in which one company agrees to deliver gas, either directly or through intermediaries, to another company at one location or in one time period in exchange for the delivery by the second company to the first company of an equivalent volume or heat content at a different location or time period. Note: Such agreements may or may not include the payment of fees in dollar or volumetric amounts.
An EFS allows market participants to exchange a position in the Henry Hub natural gas futures contract for a cash-settled position instead of physical gas. EFS transactions are permitted until two hours after trading terminates in the underlying Henry Hub natural gas futures contract. There is an exchange fee of $2.50 per side for each EFS transaction
A type of energy exchange in which one electric utility agrees to supply electricity to another. Electricity received is returned in kind at a later time or is accumulated as an energy balance until the end of a specified period, after which settlement may be made by monetary payment.
A contractual agreement in which quantities of crude oil, petroleum products, natural gas, or electricity are delivered, either directly or through intermediaries, from one company to another company, in exchange for the delivery by the second company to the first company of an equivalent volume or heat content. The exchange may take place at the same time and location or at different times and/or locations. Such agreements may also involve the payment of cash
Where the Commissioner, after consultation with the Authority, holds that petroleum is being produced from a well at a gas/oil ratio excessive under the prevailing circumstances, he may require the reduction of such gas/oil ratio to such reasonable extent and within such reasonable time as he may specify
Capacity beyond what is required to fulfill current demand