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Friday, 24 February 17
RUSSIAN OIL AND GAS WITHSTANDS OIL PRICE SHOCK - FITCH RATINGS
 Fitch Ratings says in a new report that the Russian oil and gas sector has withstood the oil price stock of 1H16. Key events of 2016 include record crude production levels, Rosneft's acquisition of Bashneft in October 2016 and subsequent privatisation, as well as Gazprom's record gas sales to Europe.
According to Fitch Ratings the completed EUR10.2bn sale of a 19.5% stake in Rosneft to Glencore and the Qatar Investment Authority (QIA) is an important milestone for the sector. The ownership structure of the joint venture appears transparent: Fitch understands the joint venture that holds the stake in Rosneft is owned in equal shares by Glencore and QIA. Fitch does not rate Rosneft and therefore does not have detailed information on the transaction, but information reviewed by Fitch to date has confirmed the shareholding structure and fully resolved the agency's other questions raised at the Oil & Gas conference: "The Time for Cautious Optimism in Moscow on 15 February 2017".
In September-October 2016, Russia increased oil production by some 500,000 barrels of oil equivalent to the record volume of 11.23 million barrels of oil equivalent (mmboepd), mainly due to the launch of and continuing ramp-up across several large greenfields. Following the OPEC deal at end-November 2016, Russia agreed to cut production by some 300mboepd, bringing the post-deal volumes to 10.9mmboepd.
Fitch Ratings further noted that, in 9M16, production from certain Russian oil brownfields increased and natural decline rates moderated, mainly on significantly higher production drilling volumes that some producers demonstrated. Brownfield taxation remains high - the mineral royalty (MET) and the export duty account for 50%-60% of a typical brownfield's revenue - limiting further brownfield production growth potential.
Most Fitch-rated Russian oil and gas companies are on Stable Outlook. The Stable Outlook is driven by our expectation of stable crude production volumes and improving upstream profitability on higher forecast oil prices. Unlike their western European peers, Russian oil and gas companies did not significantly reduce capex or headcount in 2016.
Falling oil prices and taxation changes lowered downstream profitability in 9M16, resulting in higher crude exports and a 20% reduction in fuel oil production. We forecast Russian downstream to continue performing at levels similar to or slightly better than those in 2016, said Fitch Ratings.
Due to competitive gas prices and cold weather, Gazprom posted record high gas sales in Europe in 2016, while its financial results suffered from falling average gas prices. We expect Gazprom's funds from operations (FFO) net leverage to increase to around 2x on high capex; nonetheless, the leverage remains within our rating guidance.
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Thursday, 14 September 17
THE FIRM COAL TRADE IS SUPPORTING SUPRAS; FIXING AROUND LOW $13000 WITH DELIVERY THAILAND - FEARNLEYS
Supramax
This week has brought Supras firm rates and numerous orders. Scrap orders from Cont to Med still pay $11000 and Fertilizer from Baltic t ...
Thursday, 14 September 17
KOMIPO INVITED BIDS FOR 5700 NAR BITUMINOUS COAL FOR BORYEONG POWER PLANT; 390K MT FOR NOV LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 390,000 Metric Tons of Bituminous coal ...
Wednesday, 13 September 17
U.S. COAL EXPORTS FOR THE FIRST SIX MONTHS OF 2017 WERE 55% HIGHER COMPARED TO THE SAME PERIOD IN 2016 - EIA
COALspot.com: EIA expects the share of U.S. total utility-scale electricity generation from natural gas to fall from an average of 34% in 2016 to a ...
Wednesday, 13 September 17
SOME THOUGHTS ON NORTH KOREA, US & CHINA - THEODORE NTALAKOS
The trade volume between North Korea and China is more than $5 billion per year. 83% of North Korea's exports end up in China; similarly, about ...
Tuesday, 12 September 17
NEWCASTLE FOB PRICES ROSE STRONGLY AND ARE NOW THREATENING TO BREAK THROUGH US$100/T - DANIEL HYNES
COALspot.com: The rise in crude oil market supported further gains in thermal coal, says Daniel Hynes Senior Commodity Strategist at ANZ.
Acco ...
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Showing 1941 to 1945 news of total 6871 |
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- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Australian Coal Association
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
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