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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, 27 July 17
A VOLATILE WEEK IN THE CAPE MARKET - FEARNLEYS
Supramax
The black sea still performing well although bit fewer fixtures concluded/reported. Rates lie somewhere around 18 -19 on front-haul . Bo ...
Wednesday, 26 July 17
SHIPPIPNG MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
After an admittedly challenging 2016, the Dry Bulk market kicked off this year on a much more positive note, with all indices steadily increasing u ...
Monday, 24 July 17
THE FREIGHT MARKET ROSE THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK
COALspot.com: The Freight market rose this past week compared to the previous week, as BDI and Cape indexes show a positive trend week over week.
...
Friday, 21 July 17
ESTIMATED WEEKLY U.S. COAL PRODUCTION TOTALED APPROXIMATELY 15.3 MMST; UP 13.5% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tonn ...
Thursday, 20 July 17
SUPRAMAX: INDO COAL ROUNDS ARE TRADING AROUND MID/HIGH $11K WITH SINGAPORE DELIVERY - FEARNLEYS
Supramax
A positive week again in the Pacific with rates moving upwards.
According to Fearnleys Weekly Dry bulk report, Nopac rounds are pay ...
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Showing 1996 to 2000 news of total 6871 |
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- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- The University of Queensland
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Latin American Coal - Colombia
- McConnell Dowell - Australia
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