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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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Monday, 14 August 17
THE FREIGHT MARKET CONTINUES ON AN UPWARD PATH
COALspot.com: The freight market was continued to rose this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positi ...
Monday, 14 August 17
IN A PARIS AGREEMENT WORLD, COAL WILL MEET GROWING ASIAN ENERGY NEEDS - BENJAMIN SPORTON
When providing 41% of the world’s electricity, 85% of global cement, 74% of the world’s steel and 60% of the world’s aluminum, co ...
Friday, 11 August 17
KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 1,280,000 Metric Tons of Bitumino ...
Friday, 11 August 17
U.S WEEKLY COAL OUTPUT ALMOST FLAT WEEK OVER WEEK, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 16.1 million short tonn ...
Thursday, 10 August 17
GLOBAL COAL PRODUCTION FELL SIGNIFICANTLY IN 2016 - IEA
COALspot.com: Global coal production fell significantly in 2016, while global trade in natural gas was up. These are two of the key messages in Wor ...
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Showing 1971 to 1975 news of total 6871 |
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- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
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