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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, 10 August 17
ANOTHER ACTIVE WEEK FOR THE PANAMAXES WITH INCREASING RATES IN BOTH HEMISPHERES - FEARNLEYS
Supramax
Both basins have remained fairly flat, could say slightly to the negative. A quiet start of the week in the Pacific with holidays in Sin ...
Wednesday, 09 August 17
THE KEY IMPORTERS OF U.S. COAL FOR THE FIRST FIVE MONTHS OF 2017 ARE THE NETHERLANDS, INDIA AND JAPAN - PETER SAND, BIMCO
US seaborne coal exports have turned years of negative growth around and seem to be climbing for a third quarter in a row. The increase in total vo ...
Wednesday, 09 August 17
INDONESIAN COAL PRICE REFERENCE INCREASE COULD CONTINUE IN THE COMING MONTHS
COALspot.com: Indonesian coal benchmark price rose 6.36% in August, government data showed.
The benchmark price of Indonesian thermal ...
Wednesday, 09 August 17
COAL HAS GAINED AROUND 40% OVER THE PAST TWELVE MONTHS; IRON ORE HAS MOVED FROM AROUND $50/T IN AUGUST 2016 TO OVER $70/T TODAY - INTERMODAL
During the summer’s peak, and with the markets remaining relatively quiet, we can argue that most markets have built solid foundations to enj ...
Tuesday, 08 August 17
THE BULLISH RIDE CONTINUES ON FOR THE IRON ORE MARKET - GEORGE LAZARIDIS
The bullish ride continues on for the iron ore market, with most in the market now eyeing the possibility for further gains to be had as Chine ...
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Showing 1976 to 1980 news of total 6871 |
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- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- White Energy Company Limited
- PTC India Limited - India
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
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