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Thursday, 28 July 16
FITCH RAISES CORPORATE OIL PRICE ASSUMPTION FOR 2016 TO USD42
 Fitch Ratings has raised the 2016 oil price assumptions it uses when rating energy-sector corporates, but expects record high inventories to slow any further price increases.
We assume Brent and WTI will average USD42 a barrel in 2016, up from our USD35/bbl base case in February. The increase follows evidence that the market will come into balance in the second half of 2016, which has already been reflected in a year-to-date average price of USD41/40 for Brent/WTI.
However, we do not believe that the rapid price recovery seen in the first half of 2016 will continue. The sub-USD30 prices at the start of the year approached cash costs for many producers and were unsustainable in all but the very short term. Prices in the USD40-USD50 range allow most producers to break even on a cash basis, if not to cover sunk costs.
We believe that record high inventories - OECD stocks are still more than 10% higher than normal - and market expectations that US shale production will begin to rebound at prices above USD50, will keep prices below that level until a supply deficit has eroded some of the inventory overhang.
We have therefore left our 2017 and 2018 price assumptions unchanged at USD45 and USD55 respectively. Our long-term expectations for both Brent and WTI are unchanged at USD65, reflecting our view on the long-run marginal cost of supply.
Our natural gas expectations have also changed, with price assumptions for US Henry Hub rising and UK National Balancing Point (NBP) falling. In the US, the market has begun to work through the excess inventory build-up associated with last year's El Nino winter. Slower production growth in key shale plays has also helped. For NBP, increased US gas exports have contributed to a medium-term LNG glut, which we expect to put pressure on international spot prices.
Our Henry Hub price assumptions are USD2.35/mcf in 2016, rising to USD2.75 in 2017, USD3.00 in 2018 and USD3.25 in the long term. For NBP we assume a price of USD5.00/mcf for 2016, USD5.50 in 2017, USD6.00 in 2018 and USD6.50 in the long term.
Source: Fitch Ratings
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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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Showing 16 to 20 news of total 6871 |
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- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- The University of Queensland
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
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