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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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Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Planning Commission, India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Indian Oil Corporation Limited
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
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