JWN Energy, Canada’s leading source for oil and gas news, data and analysis, has today announced that it has joined the Canadian Crude Index Alliance (CCIA), a Canadian crude benchmark that aggregates the crude index data of Marex Spectron and One Exchange, two leading energy brokers.
The Daily Oil Bulletin (DOB), a digital news and data product of JWN Energy, will become the new publisher of the CCIA, replacing Canadian Enerdata that helped found the CCIA in 2017. This move comes as Enerdata’s Richard Zarzeczny has decided to retire.
The CCIA will continue to provide real time and daily trading information on a wide variety of western Canadian crude grades, condensate and butane. These essential data sets will be available via the DOB website and delivered in daily email alerts starting December 1, 2019.
“The DOB is used by nearly every producer, midstream and trading organization operating in Canada,” said Bemal Mehta, Senior Vice-President, Energy Intelligence, for JWN Energy. “We believe that the wide availability of this pricing information will help the industry make better decisions.”
Over the past two years the CCIA has been a great success in establishing a third-party aggregated index for Canadian crude, with better liquidity and more accurate pricing, said the two energy brokers.
“We welcome the Daily Oil Bulletin and thank Richard for the strategic role and knowledge that he has brought to this project,” said Hunter Baldwin, Managing Director North America and Joint head of Global Energy at Marex Spectron.
Perry Undseth, President of One Exchange, added: “We are happy to be working with the DOB and Marex Spectron to further integrate the CCIA into the Canadian crude and NGL marketplace. Moving forward with the DOB will continue to make the CCIA index the benchmark of choice and will provide customers with better trading and hedging opportunities by increasing liquidity and attracting new market participants in both physical and financial products. Tying financial instruments to a broader, more comprehensive benchmark offers significant improvements to liquidity over the existing market mechanics.”