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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, 24 August 17
SUPRAMAX: LOW $10K FOR INDO COAL TRIPS TO INDIA; AROUND $10K FOR INDO TO CHINA TRIPS - FEARNLEYS
Supramax
This week Supras from the Black Sea on fhaul have seen numerous orders and improving rates.
53-57k dwt vessels have been fixed at e ...
Wednesday, 23 August 17
THE STRONG IRON ORE TRADE ROUTES SUPPORT CAPESIZE SEGMENT - INTERMODAL
The upward trend in the Capesize segment is definitely being supported by the strong momentum in the key iron ore trade routes. The price of high-q ...
Tuesday, 22 August 17
WHAT IS A RELEASE CALL?
KNOWLEDGE TO ELEVATE
Joining a mutual P&I Club means each Member shares in the fortunes of that Club and its membership. The continuity of ...
Tuesday, 22 August 17
THOSE DOG DAYS OF SUMMER STEEL PRODUCTION IN CHINA - COMMODORE
COALspot.com: One popular but inaccurate narrative that makes the rounds every June and July (and occurred again this year) is that China’s s ...
Monday, 21 August 17
BANPU REVEALS FIRST HALF 2017 WITH STRONG RESULTS; SUPPORTED BY HIGHER COAL PRICES
Banpu Reveals First Half 2017 with Strong Results from Higher Coal Prices Gearing Up to the Era of New Energy with Banpu Greener & Smarter Stra ...
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Showing 1961 to 1965 news of total 6871 |
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- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- White Energy Company Limited
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Planning Commission, India
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
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