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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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Wednesday, 10 August 16
THE INDONESIAN DRAFT NEW MINING LAW - AMENDMENTS TO THE 2009 MINING LAW
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
Tuesday, 09 August 16
CS50 COAL INDEX HITS NEW FIFTY-WEEKS HIGH
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 1.78% week over week to averaging $41.85 per ton this past week, shows CS (i) C ...
Tuesday, 09 August 16
HARD COAL PRODUCTION AND WORLD TRADE ON THE DECLINE FOR THE FIRST TIME IN YEARS - VDKI
Hard coal production and world trade on the decline for the first time in years – not a harbinger of a global energy turnaround
Worldwid ...
Tuesday, 09 August 16
BREXIT, BRITANNIA AND THE WAVES - TREVOR CROWE, CLARKSON RESEARCH
This week, the Bank of England put into place its action plan following the UK referendum on 23rd June, which indicated the British population&rsqu ...
Monday, 08 August 16
INDONESIA'S DRAFT MINING LAW HINTS AT FUTURE REGULATORY FRAMEWORK
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
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- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Australian Coal Association
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Planning Commission, India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- The University of Queensland
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- PTC India Limited - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
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