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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, 21 June 17
MARKET INSIGHT - SHIPPING
Looking back at March and April shipping reports when the dry bulk indexes were starting to move up, a number of shipping analysts were stating tha ...
Tuesday, 20 June 17
WORLD ECONOMY SHOWS A MORE OPTIMISTIC TREND
During the past weeks, we have seen many organizations and think tanks show a more optimistic face with regards to the world economy. The World Ban ...
Monday, 19 June 17
PANAMAX RATES HELP BALTIC INDEX TO A POSITIVE MOVE
COALspot.com: The Freight market rose very marginally this past week compared to the previous week, as BDI and Panamax indexes show a positive tren ...
Friday, 16 June 17
WEEKLY U.S. COAL PRODUCTION RISES; UP 24.1% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tonn ...
Thursday, 15 June 17
SUPRAMAX NICKEL ORE FROM PHILIPPINES TO S. CHINA PAYING AROUND MID $10000 - FEARNLEYS
Supramax
Market looked more promising from both sides of the basins. Within Atlantic USG returned with tick better rates seen as tonnage kept tig ...
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Showing 2021 to 2025 news of total 6871 |
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- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- ASAPP Information Group - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
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