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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, 24 May 17
LR MARKET IT SEEMS THAT EARNINGS ARE STILL UNDER PRESSURE - INTERMODAL
As we are approaching the summer season, the Clean Product market appears poised to become more challenging, either on East or West of Suez.
L ...
Tuesday, 23 May 17
TANKERS WEEKLY MARKET NOTE - ALLIED
It’s been a turbulent couple of weeks on the oil front, with the effectiveness of OPEC’s policy being under debate amongst most traders ...
Monday, 22 May 17
THE SHIPPING INDEX DECLINES AGAIN
COALspot.com: The Freight market again decline this past week, as BDI and all other indexes show a negative trend week over week.
The Baltic E ...
Friday, 19 May 17
U.S WEEKLY COAL OUTPUT UP 1.2% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 13.5 million short ton ...
Thursday, 18 May 17
SUPRAMAX : COAL TRIPS TO CHINA WITH VESSELS OPEN INDO HAVE BEEN FIXED AROUND $8000
Supramax
Atlantic market has stayed quiet with no substantial developments.
Cont to Med scrap cargoes have concluded around 11k says Fearnle ...
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Showing 2041 to 2045 news of total 6871 |
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- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Central Electricity Authority - India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Marubeni Corporation - India
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