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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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Showing 31 to 35 news of total 6871 |
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- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- White Energy Company Limited
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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