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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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Friday, 08 September 17
MIXED SIGNALS ON REFINERY PREPARATIONS FOR 2020 FUEL CHANGES - IBIA
A recent consultancy survey has suggested that some 85% of refiners have not made plans for how to deal with the expected dramatic fall in g ...
Thursday, 07 September 17
CAPESIZE: EARNINGS FOR THE BIG SHIPS KEEP UP NICELY AS DIPS ARE MODERATE AND SHORT-LIVED - FEARNLEYS
Supramax
Fewer activities in the Atlantic in start of the week with the US holidays. Owners were asking around low USD 20k for trip ex USG to Far ...
Thursday, 07 September 17
TALK OF CONSTRAINTS ON CHINESE COAL OUTPUT PUSHED PRICES HIGHER - DANIEL HYNES
Commodity markets were largely higher as a weaker USD boosted investor appetite.
According to Daniel Hynes, Senior Commodity Strategist at ANZ ...
Wednesday, 06 September 17
LAYTIME - CHARTERERS' RIGHTS & PORT COSTS - NORTH P&I CLUB
KNOWLEDGE TO ELEVATE
In a recent London Arbitration decision (18/17) the Tribunal had to consider whether the owners were entitled to recover ...
Wednesday, 06 September 17
SHIPPING MARKET INSIGHT - STELIOS KOLLINTZAS
The impact of Hurricane Harvey, which made landfall on 25th of August in South East coastline of Texas area has been the major concern of the shipp ...
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Showing 1951 to 1955 news of total 6871 |
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- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- ICICI Bank Limited - India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Planning Commission, India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
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