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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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Wednesday, 05 July 17
TROUBLE SEEMS TO BE LOOMING ONCE MORE IN THE STEEL INDUSTRY - GEORGE LAZARIDIS
Trouble seems to be looming once more in the steel industry as US President Trump puts forth his plans for specialist protectionist measures for th ...
Friday, 30 June 17
U.S. WEEKLY COAL OUTPUT SLIGHTLY DOWN
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.6 million short tonn ...
Wednesday, 28 June 17
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
From the beginning of the year until now SnP activity has changed significantly. To put things into perspective, after a fast and furious q1 on the ...
Monday, 26 June 17
PANAMAX/KAMARMAXES HAD A STRONG WEEK WITH RATES RISING IN MOST AREAS OF THE MARKET - BALTICEXCHANGE
Capesize
A dark cloud appeared to have descended over the market for the big ships with rates continuing to slide in all areas. There was a repor ...
Friday, 23 June 17
U.S. WEEKLY COAL PRODUCTION TOTALED APPROXIMATELY 15.8 MMST; UP 1.8% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.8 million short tonn ...
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Showing 2016 to 2020 news of total 6871 |
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- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Planning Commission, India
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- PTC India Limited - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
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