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The Scotsman (Edinburgh, Scotland)
IHS Energy Acquires Cambridge Energy Research Associates
September 1, 2004
HOUSTON – (BUSINESS WIRE) – Sept. 1, 2004 – Move Creates Global Powerhouse for Strategic Energy Insight and Analysis
IHS Energy, the leading global source of oil and gas information, analysis and software, announced today it has acquired Cambridge Energy Research Associates (CERA), the preeminent strategic knowledge advisor to the world’s energy industry and to financial institutions and governments.
CBS MarketWatch
IHS Energy acquires CERA
Sept. 1, 2004
DALLAS (CBS.MW) -- IHS Energy, a provider of information and consulting services to the oil and gas industry, said Wednesday it acquired Cambridge Energy Research Associates for undisclosed terms.
CERA is a worldwide adviser to the energy industry as well as to financial institutions and governments.
The deal "will create a depth and range of analytical capability that does not currently exist," said Ron Mobed, president and chief operating officer of IHS Energy, in a press release.
Daniel Yergin, CERA's chairman, said the combination of the two companies would better serve clients adjusting to the fast-changing energy industry.
"We see a definitive shift based upon growing demand, the emergence of major new consuming countries, the need for new supplies, and environmental requirements -- underlined by the fact that the world oil market is tighter today than it was at the beginning of the 1973 oil crisis," Yergin said in a statement. He'll continue to serve as chairman of CERA.
Houston Business Journal
Houston energy consulting firm merges with Massachusetts competitor
September 1, 2004
IHS Energy, a Houston-based oil and gas consulting firm, announced Wednesday it has acquired Cambridge Energy Research Associates, a Cambridge, Mass.-based advisory firm whose clients span the world's energy industry, financial institutions and governments.
"This powerful combination will create a depth and range of analytical capability that does not currently exist," said Ron Mobed, president and COO of IHS Energy.
CERA Chairman Daniel Yergin will become a member of the executive leadership of IHS Energy and will continue to serve as chairman of CERA, which will maintain its focus on delivering thought-leadership, strategic insights and analysis of market fundamentals for companies and organizations in the global oil, natural gas and electric power industries.
CERA has for more than two decades sponsored an annual energy conference at the Galleria in Houston that always attracts a large, international attendance of energy industry and government leaders
Yergin says the timing of the merger is based upon the companies' "common view of the needs ahead."
Boston Business Journal
Cambridge Energy Research bought by Houston firm
September 1, 2004
Houston-based IHS Energy has acquired Cambridge Energy Research Associates for an undisclosed amount.
CERA's 220 employees analyze the oil, natural gas and electricity industries. Besides its Cambridge headquarters, it has offices in Beijing, Calgary, Alberta, Mexico City, Moscow, Oakland, Calif., Paris, Sao Paolo, Brazil, and Washington D.C.
CERA chairman Daniel Yergin will remain with IHS. He authored "The Prize: The Epic Quest for Oil, Money and Power," which won the 1992 Pulitzer Prize for general nonfiction and was adapted as a documentary on the Public Broadcasting Service.
IHS Energy is a subsidiary of IHS Group, which has made five acquisitions in the past two years, also launching two joint ventures.
Le Revenu (Paris)
IHS ENERGY acquiert Cambridge Energy Research Associates (CERA)
September 1, 2004
Cette acquisition créera une centrale électrique mondiale pour une compréhension et une analyse stratégiques de l'énergie IHS Energy, la première source mondiale d'informations de gaz et pétrolières, de services d'analyse et de logiciels, a annoncé ce jour son acquisition de Cambridge Energy Research Associates (CERA).
USA Today
Voracious growth puts China in a power crunch
September 1, 2004
WENZHOU, China — It's not even 5 p.m. on a workday and the corridor outside Li Chengwen's office is dark. The air is moist and warm.
Li may be the CEO of an established electronics manufacturer, but in China these days, electricity is far too precious to waste on unnecessary lighting or air conditioning. The booming economy has outstripped the country's ability to generate power, leaving companies like Li's Fato Group to fend for themselves with private generators and conservation schemes.
In the capital, Beijing, officials earlier this month issued their first-ever "yellow" alert warning of possible electricity shortages. Shanghai has resorted to switching off the neon lights that brighten the famous riverfront boulevard known as the Bund. And in 24 of China's 31 provinces, electricity shortages have forced periodic power rationing. The nationwide shortfall is estimated at a staggering 30 gigawatts — an amount equal to Turkey's entire electric grid…
China's surging imports are still a fraction of the nearly 10 million barrels a day that the USA imports. But this ravenous economy is far less energy efficient than the USA's. So China's economic growth already is a major factor in higher global oil prices.
About one-quarter of the past year's growth in imports was fuel for industrial generators, according to Scott Roberts of Cambridge Energy Research Associates' Beijing office.
New York Times
Company News: IHS Energy Acquires Cambridge Energy Research
September 2, 2004
IHS Energy, which provides maps and technical databases to oil and natural gas producers, bought Cambridge Energy Research Associates, a consulting company founded by the author Daniel Yergin. Mr. Yergin will continue to oversee Cambridge Energy's research and will serve on IHS Energy's governing board. Terms of the deal were not disclosed. IHS Energy is owned by the Thyssen-Bornemisza Group, a closely held European conglomerate. Cambridge Energy, based in Cambridge, Mass., was majority-owned by Clayton, Dubilier & Rice Inc., a buyout firm based in New York. Mr. Yergin is the author of ''The Prize: The Epic Quest for Oil, Money and Power,'' a history of the oil industry that won the Pulitzer Prize for nonfiction in 1992.
Washington Post
Business in Brief
September 2, 2004
IHS Energy, which provides maps and technical databases to oil and natural-gas producers, acquired Cambridge Energy Research Associates, the consulting company founded by Pulitzer Prize-winning author Daniel Yergin. The acquisition will combine IHS Energy's data on more than 200 countries with Cambridge Energy's economic and policy analysis, Yergin said. Terms of the transaction weren't disclosed.
Houston Chronicle
Big name in energy bought
September 2, 2004
IHS Energy, an Englewood, Colo.-based oil and gas information firm, has purchased Cambridge Energy Research Associates, one of the more notable names in the energy consulting business, for an undisclosed price.
IHS, which boasts exploration and production data on 230 countries and territories around the globe, has acquired a string of energy information firms in recent years, including Petroleum Information/Dwights, Petroconsultants and IEDS.
Cambridge Energy, based in Cambridge, Mass., advises energy companies, technology firms, financial institutions and governments regarding the energy markets, geopolitics and industry trends. The plan is to combine IHS' huge data set with Cambridge's analysis and research.
The combination of the privately held firms will have 1,300 employees worldwide, including about 280 in Houston.
Daniel Yergin, chairman and co-founder of Cambridge Energy, will join IHS' executive team and will stay to head the Cambridge Energy operation.
Yergin, who is a frequent news commentator and is best known as the author of the Pulitzer Prize-winning book The Prize: The Epic Quest for Oil, Money & Power, said he had been searching for a couple of years for a potential merger partner that could help bring the company to a new level.
Officials at the combined entity are betting energy clients will have a greater need for information and analysis now than ever before, as they try to respond to upheavals in the energy sector.
Oil prices have soared from less than $10 a barrel just a few years ago to nearly $50 a barrel. The oil market now, Yergin noted, is tighter than it was on the eve of 1973 energy crisis.
Natural gas is becoming a second global energy commodity with the increased movements of liquified natural gas, or LNG, while the power business has been "whipsawed," as Yergin would have it, by competitive and regulatory pressures.
"When we look at the energy businesses anywhere in the world, and we see change," Yergin noted.
The Oil Daily
IHS Energy Buys CERA
September 2, 2004
Houston-based oil and gas consultant IHS Energy announced Wednesday that it has purchased Cambridge Energy Research Associates (CERA) for an undisclosed sum.
CERA Chairman Daniel Yergin told Oil Daily that IHS and CERA are “natural partners” and the sale will give analysts at CERA access to IHS’ extensive databases —some of the best in the industry — in order to better study the international oil industry and the on going issue of reserves “given the technological revolution and the change in the market.”
“We’ve been convinced for the last five years that we need to combine our analysis with data, and this is an efficient way of doing it,” Yergin said.
Yergin will become a member of the executive leadership of IHS and will continue to serve as the chairman of CERA. Both companies will continue to retain their separate
identities, Yergin said.
The Oil Daily
Oil Markets at Unprecedented Crossroads; Futures Up on Stock Data
September 2, 2004
Oil market experts are split on the direction of oil prices in the near-term. Some say it’s just a matter of time before the so-called “speculative bubble” bursts and prices are back in the lowto- mid $30 per barrel range, which would be more in tune with inventory levels. Meanwhile, others say the “new reality” of the market will support prices in the low $40/bbl range, if not higher. Light, sweet crude for October delivery on the New York Mercantile Exchange (Nymex) rose Wednesday by $1.88 to $44/bbl on bullish inventory data. The November contract finished just 4¢ behind. In London, IPE Brent for October gained $1.86 to $41.47/bbl.
Wednesday’s sharp increase aside, crude oil prices on the Nymex have fallen sharply since Aug. 20 when they peaked at $49.40/bbl because of reduced geopolitical turmoil, the unwinding of long positions by speculators and lower refinery demand…
“The critical supply issue is Iraq and Iraqi oil supplies,” said Daniel Yergin, chairman of Cambridge Energy Research Associates.
The Financial Times
CERA sold to IHS Energy
September 3, 2004
Cambridge Energy Research Associates (CERA), the oil consultancy to energy companies, financial institutions and governments, said it has been sold to IHS Energy, a privately-owned oil services, consulting and software group, for an undisclosed sum.
CERA was founded by Daniel Yergin, the chairman of the group and is also author of the Pulitzer Prize-winning book, The Prize. IHS Energy said Mr Yergin will be an executive of the enlarged company and will continue to serve as chairman of CERA.
“The timing of this merger is based upon our common view of the needs ahead,” said Mr Yergin. “We have great respect for IHS Energy's global capabilities, its commitment to meeting the needs of the energy industry, and its core contribution to decision-making in the oil industry worldwide,” he said.
CERA employs 200 people and has offices in China, the US, Mexico, Russia, France and Brazil. IHS Energy operates in more than 200 countries.
CBS MarketWatch
Key drivers keeping oil prices high
September 4, 2004
High global demand, low spare capacity and easing worldwide recessionary risk are pushing up crude prices, now trading close to $45 a barrel…
Between 1979 and 1984, global demand fell about 5 million barrels a day to 60 million barrels, according to WTRG data.
But this year, oil demand is "on track to record its largest annual gain in a generation," said Jim Burkhard, director for world oil analysis at Cambridge Energy Research Associates.
Los Angeles Times
China's Boom Economy Is Starved for Electricity
September 4, 2004
YIWU, China — If power is the lifeblood of an economy, China is hemorrhaging. Across the country, electric utilities can't keep up with demand, generators are hot sellers and brownouts endemic…
Nor is there much apparent incentive to do so. Residential consumers are charged far less for electricity than industrial users as part of the government's bid to maintain public stability. And most building codes don't require double-paned windows, tight seals or other energy-saving steps even as residential users get preferential access when supply is rationed.
This means a disproportionate share of the pain from power brownouts fall on industry, said Scott Roberts, Beijing representative at Cambridge Energy Research Associates.
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