•  
  •  
  •  
  •  
  •  
  • Untitled Document
    Untitled Document

    RBC acquires the Athena Energy Group to expand existing commodities business into Quebec

    Royal Bank of Canada

    Royal Bank of Canada has acquired the Athena Energy Group, a natural gas supplier in Quebec. The acquisition expands RBC Capital Markets’ existing business, which offers structured pricing for natural gas supply, from Ontario into Quebec.

    Terms were not disclosed.

    “RBC is the leading Canadian bank offering structured contracts for natural gas supply directly to commercial clients, helping them manage their exposure to changes in energy prices. This acquisition builds on our existing presence in the market and positions us well for the future,” said Bruce Macdonald, Head of Commodities & Electronic Trading at RBC Capital Markets. “Athena has longstanding relationships with more than 400 commercial and institutional clients in Quebec, and its team will be able to leverage the strength in commodities and risk management of RBC to provide additional value to its clients.”

    RBC Capital Markets’ Commodities group provides leading international sales and trading capabilities across a variety of commodity markets (oil and gas, metals, agriculture, electricity and carbon emissions) in North America and Europe.

    “The Athena team is excited about the opportunity to join RBC. As part of RBC Natural Gas Services Inc., we will have even better tools to continue to provide outstanding service to our customers and further grow our business,” said Robert Bédard, principal co-founder, Athena Energy Group and vice president and co-head of commercial energy, RBC Capital Markets.

    The Athena Energy Group was a privately-held business headquartered in St. Leonard, Quebec, consisting of two sister companies, Athena Energy Marketing Inc. and Athena Energy Services Inc. Effective immediately, the Quebec natural gas structured contracts business is renamed and will operate as RBC Natural Gas Services Inc.

    Most Popular

    Related Articles

    Diversity lags in oil industry

    08/07/2015

    Having diversity on corporate boards helps prevent 'group think.'

    Quantifying political risk

    08/07/2015

    New PRIX index analyzes political risk in oil markets

    EXCO receives continued listing standard notice from NYSE

    08/04/2015 EXCO Resources Inc. was notified on July 30 by the New York Stock Exchange (NYSE) of its noncompliance with continued listing standards because the average closing price of its common shares over a...

    ICIS licenses BFOE benchmark data to ICE Futures Europe for compilation of the ICE Brent Index

    08/04/2015 ICIS, a market information provider, is licensing its crude oil BFOE benchmark data to the ICE Futures Europe to be used in the compilation of the ICE Brent Index.    

    Atlantic Petroleum to explore strategic alternatives

    08/03/2015 P/F Atlantic Petroleum’s board of directors has authorized the company's management team to explore a range of strategic alternatives to further enhance shareholder value. Pareto Securities AS has ...

    Shell announces layoffs as profits fall

    07/30/2015 Another oil and gas giant has announced job cuts in the wake of continually depressed oil and gas prices. With its 2Q15 results, Royal Dutch Shell presented plans to “manage returns in prolonged oi...

    More Oil & Gas Financial Articles

    Diversity lags in oil industry

    Fri, Aug 7, 2015

    Having diversity on corporate boards helps prevent 'group think.'

    Quantifying political risk

    Fri, Aug 7, 2015

    New PRIX index analyzes political risk in oil markets

    EXCO receives continued listing standard notice from NYSE

    Tue, Aug 4, 2015

    EXCO Resources Inc. was notified on July 30 by the New York Stock Exchange (NYSE) of its noncompliance with continued listing standards because the average closing price of its common shares over a period of 30 consecutive trading days had fallen below $1.00 per share, which is the minimum average closing price per share required to maintain listing on the NYSE.

    ICIS licenses BFOE benchmark data to ICE Futures Europe for compilation of the ICE Brent Index

    Tue, Aug 4, 2015

    ICIS, a market information provider, is licensing its crude oil BFOE benchmark data to the ICE Futures Europe to be used in the compilation of the ICE Brent Index.

     

     

    Atlantic Petroleum to explore strategic alternatives

    Mon, Aug 3, 2015

    P/F Atlantic Petroleum’s board of directors has authorized the company's management team to explore a range of strategic alternatives to further enhance shareholder value. Pareto Securities AS has been engaged as the company's financial advisors in this process.

    OGFJ photo of the day


    Click to view slideshow

    Oil & Gas Jobs

    Search More Job Listings >>
    Subscribe to OGFJ