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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, 24 March 17
ADARO INDONESIA'S COAL SALES VOLUME INCREASED SLIGHTLY TO 54.1 MILLION TONES IN 2016
COALspot.com: PT. Adaro Indonesia, Indonesia’s second largest coal miner’s sales volume increased slightly to 54.1 million tones (Mt) i ...
Friday, 24 March 17
U.S COAL PRODUCTION ESTIMATE DECLINE 4.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.1 million short tons ...
Thursday, 23 March 17
CAPESIZE: TAKING A BREATHER AFTER RALLYING - BUT OUTLOOK FOR WEEKS TO COME NOT SCARY - FEARNLEYS
Supramax
In the Pacific the market seems somewhat slower this week, although healthy rates still being achieved said Fearnleys in its latest week ...
Thursday, 23 March 17
KOREA MIDLAND POWER COMPANY LIMITED INVITES BIDS FOR TOTAL 4.77 MILLION TONS OF BITUMINOUS COAL FOR ITS BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 2,090,000 Metric Tons of Bituminous coal f ...
Wednesday, 22 March 17
THE DRY BULK MARKET HAS UNDOUBTEDLY REBOUNDED SINCE THE SAME PERIOD LAST YEAR - KONSTANTINOS KONTOMICHIS
The Dry Bulk market has undoubtedly rebounded since the same period last year and currently enjoys healthier freight rates. The positive reversal i ...
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Showing 2091 to 2095 news of total 6871 |
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- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Planning Commission, India
- London Commodity Brokers - England
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Australian Coal Association
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
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