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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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Friday, 02 June 17
U.S THE PAST WEEK'S COAL PRODUCTION ESTIMATE UP 4.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15 million short tonnes ...
Wednesday, 31 May 17
MARKET INSIGHT - KONSTANTINOS KAKAVITSAS
In the next episode of the oil market; The market reacts to OPEC’s production cut extension, the US shale oil producers are ruining the carte ...
Tuesday, 30 May 17
MARKET ANALYSIS - GEORGE LAZARIDIS
Despite the fair performance that has been noted in the Chinese economy over the past 5 months, we have started to see an increase in the skepticis ...
Friday, 26 May 17
MOST COAL PLANTS IN THE UNITED STATES WERE BUILT BEFORE 1990 - EIA
Coal-fired electricity generators accounted for 25% of operating electricity generating capacity in the United States and generated about 30% of U. ...
Friday, 26 May 17
U.S WEEKLY COAL OUTPUT ESTIMATE UP 6.3% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.3 million short ton ...
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Showing 2036 to 2040 news of total 6871 |
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- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- The University of Queensland
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
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