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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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Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Australian Coal Association
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- White Energy Company Limited
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
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