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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, 14 June 17
WORLD COAL PRODUCTION FELL BY 6.2%, THE LARGEST ANNUAL DECLINE ON RECORD - BP
COALspot.com: The 2017 edition of the BP Statistical Review of World Energy, shows global energy markets continuing to undergo long-term changes as ...
Wednesday, 14 June 17
HANDYSIZES AND PANAMAXES ENJOY THE TIGHTEST SUPPLY - PANOS TSILINGIRIS
The dry and the tanker shipping segments have dissimilar exposure to supply-driven opportunity (or risk). While the vintage (i.e., over 15 years ol ...
Tuesday, 13 June 17
THE TANKER FREIGHT MARKET IS STILL UNDER PRESSURE - GEORGE LAZARIDIS
News of U.S. inventory decline has hit the market by surprise with prices of the commodity showing some quick revival as OPEC continues to push wit ...
Monday, 12 June 17
THE BALTIC DRY INDEX TOOK A POSITIVE STEP
COALspot.com: The Freight market incline this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positive trend week ...
Friday, 09 June 17
U.S WEEKLY COAL OUTPUT WAS FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15 million short tonnes ...
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Showing 2026 to 2030 news of total 6871 |
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- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- GMR Energy Limited - India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
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