We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 08 October 14
OIL COULD FALL TO USD80 BEFORE SHALE SUPPLY RESPONSE - FITCH
 COALspot.com: Brent oil could fall as low as USD80 a barrel before triggering a self-correcting supply response with shale-oil drillers cutting investment in new wells, Fitch Ratings says.
According to Fitch, the steep rate at which production from shale wells declines mean companies have to keep drilling new wells to maintain production. We estimate median full-cycle costs for US exploration and production companies have fallen to about USD70. The marginal barrel, not the median one, balances supply and demand and determines price, so the point at which capex falls will probably be higher. Exactly where depends on expectations of future price. Anecdotally we understand that at USD90/bbl capex is likely to continue at full speed, while at USD75-80/bbl it may fall. This would have a relatively rapid impact on production, suggesting a notional price floor.
Fitch noted that, in the short term we consider a resurgence of supply disruptions and positive action from OPEC the most likely catalysts for a rebound in prices. But without these, further declines might be possible, especially if evidence grows of further weakening of global demand or increasing OPEC spare capacity.
The notional floor is well below the USD100/bbl level that many market participants thought was here to stay earlier this year. But in the last two weeks Brent crude has fallen - and stayed - significantly below USD100/bbl, and WTI crude has fallen below USD90/bbl for the first time since 2012. The difference between the two benchmarks has shrunk to around USD2.50, and forward curves also indicate weakness, Fitch noted.
The key supports for USD100+ oil were growing demand, tight OPEC spare capacity, increasing cost of supply, particularly combined with rapid depletion rates for shale wells, OPEC's desire for high oil prices, and political and security issues in key regions.
Fitch further noted, demand has been the clearest change in the short term, but is also the element that may most reliably reverse in the long term. If China and India grow as expected demand could rise by up to a third in the next 20-30 years - but this does not preclude short-term weakness.
OPEC has declared support for prices at USD100/bbl. Some members would prefer this price or higher, but we estimate Saudi Arabia, which would have to absorb the greatest production cuts, would be able to balance its budget at USD94/bbl. A lot will therefore ride on the outcome of OPEC's next meeting in November, said Fitch.
The geopolitical and security picture has not resulted in the predicted fall in production. Progress is being made on Iranian sanctions; Iraqi production has remained robust; Libyan production is starting to recover. Market sentiment suggests the effects of these situations will remain benign - but there is potential for this to reverse quite rapidly.
We do not expect rating implications from the price dip in the short term. Our corporate and sovereign ratings use price assumptions that drop over time, and companies and governments have shown themselves able to adjust spending to weaker prices if necessary. The rising US dollar, which has strengthened against the euro by around 10% since the middle of the year, is also contributing to weakness in oil prices when expressed in dollar terms, as our price decks are.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 25 September 14
LACK OF COAL BUSINESS PUSHING DOWN PANAMAX EARNINGS IN PACIFIC
Handy
In the Atlantic we see rates steady climbing upwards. More coal cargoes out of USG and USEC are helping the TA market which is up some USD ...
Wednesday, 24 September 14
ADARO AGREED TO REDUCE ITS CONCESSION AREA TO 31,379.8 HECTARES
COALspot.com: PT Adaro Energy Tbk (Adaro Energy) today announced that, PT Adaro Indonesia (AI), its wholly owned subsidiary, entered into a M ...
Wednesday, 24 September 14
CAPESIZE: ACTIVITY IN BOTH BASINS WAS UNIMPRESSIVE
COALspot.com: The end of the week prior seems to have marked the tone for the days that followed, with the Dry Bulk market giving up a significant ...
Tuesday, 23 September 14
MEDCO TO INCREASE ITS COAL PRODUCTION NEXT YEAR
COALspot.com: PT Medco Energi Internasional is looking to increase its coal production next year, supported by the launch of operations at its Duta ...
Monday, 22 September 14
COAL SECTOR CHAOS - GENESIS TO REVELATION - DIPESH DIPU
COALspot.com: “Let there be light”, intends the government of India but the fuel side of the story paints a blackout. The recent Suprem ...
|
|
|
Showing 3471 to 3475 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Parliament of New Zealand
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Australian Coal Association
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
|
| |
| |
|
