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Tuesday, 21 October 14
INDIA'S DIESEL DEREGULATION POSITIVE FOR OIL COMPANIES - FITCH
 The Indian government's 18 October decision to deregulate diesel prices will have a positive effect on the national oil marketing companies that are the principal retailers of petroleum products, says Fitch Ratings. The decision is also likely to lead to more private firms entering the diesel market in the medium term, resulting in greater competition.
The decision to deregulate diesel prices is well-timed in light of the recent decline in international energy prices. The expected direct impact of both the diesel reform and natural gas price hike on Fitch's headline fiscal forecasts is limited; but the fiscal balances will be more robust to future oil shocks, since both diesel and petrol prices are now determined by the market. Furthermore, implementation of these politically sensitive reforms demonstrates that the government continues to roll out structural reforms gradually, and suggests that more far-reaching structural reforms may be in the pipeline.
The national oil marketing companies - Indian Oil, Bharat Petroleum and Hindustan Petroleum - will be the principal direct beneficiaries of deregulation, and the decision is positive for these companies' standalone credit profiles. Under the previous rules, these retailers had to sell diesel (accounting for 40% of fuel sold) below market prices, and were partially compensated for the losses through the federal budget. Furthermore, the price control and subsidy system affected the working-capital positions of these companies, as there was a timing mismatch between the recognition of losses on sales and compensation from government - leading to higher debt.
The other beneficiaries are likely to be upstream oil companies such as Oil and Natural Gas Ltd and Oil India Ltd, which also bore a large part of the subsidy burden. These companies offered a USD56 per barrel discount to the national oil marketing companies - especially challenging when considering the fall in crude prices to around USD85. Fitch expects that the discount is likely to come down.
Fitch anticipates that deregulation will result in heightened competition for the existing dominant national retailers, and could hurt their profitability over the medium to long term. By allowing diesel to be marketed profitably, the sector will once again be attractive for private companies that had left when price restrictions were put in place. A large portion of the output of private refiners is exported, due in part to the restrictions placed on domestic sales. Private firms such as Reliance Industries and Essar Oil are likely to restart idled diesel retail operations, and should ultimately become more significant players. Their impact on the sector would not be seen immediately, though, as they would have to play catch-up to restart and establish retail infrastructure.
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Wednesday, 22 October 14
CAPESIZE MARKET REMAINED UNDER PRESSURE
COALspot.com: The Dry Bulk market closed on the red for yet another week although following Friday sentiment has started to improve on the back of ...
Tuesday, 21 October 14
LOW DEMAND PUTTING COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost on day, week and month.
The swap has lost US$ 1.57 (-3.04%) month on month ...
Monday, 20 October 14
CHINA'S ENVIRONMENTAL POLICIES DO NOT SPELL THE END FOR COAL - WOOD MACKENZIE
China's environmental policies do not spell the end for coal Analysis across energy commodities show coal still accounting for 64% of power mix ...
Monday, 20 October 14
CFR SOUTH CHINA COAL SWAPS FAILED TO PERFORM POSITIVE
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 3.04 (-4.57%) month over month and US$ 1.75 (-2.68%) week o ...
Sunday, 19 October 14
LOW DEMAND PUSHES DOWN COAL FREIGHT RATES; VOLATILITY CONTINUES
COALspot.com: This week all the segments softened including BDI except for Panamax index.
The BDI was down by1.70 pct and clsoed at 944 points ...
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Showing 3416 to 3420 news of total 6871 |
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
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