We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 20 November 15
CHANGING CRUDE SUPPLY TRENDS MAY HELP EUROPEAN REFINERS - FITCH RATINGS
 COALspot.com: Changes in global oil supply trends, including high Russian production, the expected renewal of Iranian heavy crude exports and the pressure on US shale oil output, may benefit European refiners, Fitch Ratings says. These trends could support a wider price differential between the Brent and Urals benchmarks and a narrower differential between Brent and the US West Texas Intermediate (WTI) benchmark, reducing the competitive advantage US refiners have over their European rivals.
The Brent-Urals differential rose above USD3.5/bbl in October from USD1-USD2/bbl earlier this year. The widening gap reflects higher availability of Russian crude in the Baltic Sea region as production in Russia reached post-Soviet highs. Saudi crude oil deliveries to Polski Koncern Naftowy Orlen (PKN) and Preem in early November might have also contributed to the widening Urals discount.
Renewed supplies of predominantly lower quality Iranian crude following the expected sanctions relief in 2016 should result in greater competition between sour crude oil types. This is likely to support further widening of the Brent-Urals differential, benefitting Central European and some Mediterranean refiners.
We believe that MOL Hungarian Oil and Gas and PKN are best placed in our portfolio to benefit as they primarily use Russian crude oil in their refineries. Tupras, with its proximity to the Bosphorus strait, has access to a wide variety of crude types and will likely benefit from both the wider Brent-Urals differential and improved access and pricing of Iranian crude.
Mediterranean refiners such as Tupras were obliged to reduce purchases of favourably priced Iranian crude when sanctions against Iran were introduced in 2012. Once the sanctions are lifted, we expect a gradual ramp-up in Iranian crude output starting from the second half of 2016. This suggests widening Brent-Iranian oil differentials will be more pronounced from 2017.
Crude oil constitutes the largest share of refineries' costs and the ability to source crude at lower prices therefore has a significant effect on profitability and competitiveness. Western European refiners are better placed to use lighter Brent oil, while CEE companies have traditionally relied on heavier Russian crude.
In recent years, the competition from the US refineries in Europe intensified as they had access to oil at a significant discount to Brent. However the differential between WTI and Brent crude has now fallen to around USD2.5/bbl from USD8-USD15/bbl between September 2013 and June 2014 when US imports were at their peak. After some delay US shale oil supply has fallen and we expect the decline to be more pronounced from next year contributing to a narrower differential to Brent in the medium term.
Narrower WTI-Brent differentials will not be enough to entirely wipe out the competitive advantage of the US refiners that also benefit from low natural gas prices. But we think the narrower differential coupled with lower natural gas prices in Europe and dollar appreciation against the euro will improve competitiveness of European refiners.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 25 November 15
INDIA'S POWER GENERATORS FACE LOW, FALLING UTILISATION RATE - FITCH
COAlspot.com: Fitch Ratings says in a new report that the utilisation rate of India's thermal power generation capacity continued to decline in ...
Wednesday, 25 November 15
BIG CHINESE COPPER PROCESSORS DEFEND MARGINS THROUGH R&D, SAYS FITCH
Large Chinese copper processors are focusing on higher value-added products and investing in R&D to enhance their technical know-how to maintai ...
Wednesday, 25 November 15
BIMCO LAUNCHES ANTI-CORRUPTION CLAUSE FOR SHIPPING CONTRACTS WORLDWIDE
COALspot.com: BIMCO, is the world’s largest international shipping association, with 2,200 members in around 130 countries, has now launched ...
Wednesday, 25 November 15
TANKER MARKET INSIGHT - GEORGE VASTARDIS
We have already noticed obvious signs of activity mainly West of Suez, which are currently driving the clean MR market to higher levels. Over the p ...
Tuesday, 24 November 15
COAL SUPPLY PRESSURE PUTS INDONESIAN HBA IN FREE FALL
The coal industry is slowly recognizing that, the current coal price level is not a decrease in price, but a change in pricing to corresp ...
|
|
|
Showing 2691 to 2695 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- VISA Power Limited - India
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- The University of Queensland
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
|
| |
| |
|
