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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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Thursday, 16 March 17
CAPESIZE: SHOWING STRENGTH; PANAMAX: VERY QUIET - FEARNLEYS
Supramax
The Atlantic market faced less activity from the USG whereas at the Cont tonnage seemed to tighten up with more cargoes emerging. Despit ...
Wednesday, 15 March 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
Over the past two weeks, the Dry Baltic Index has been on an upward trend, breaking the 1000 point mark and creating a positive sentiment for the u ...
Tuesday, 14 March 17
ORDERBOOK-TO-FEET RATIO DECREASING; THE FREIGHT MARKET IMPROVING
It seems as though the renewed optimism that has arisen from the recent upward trends being noted in the freight market, the dry bulk market has be ...
Monday, 13 March 17
PORT OF NEWCASTLE HAS SHIPPED 11.563 MILLION TONS COAL IN FEBRUARY 2017; DECLINED 12.19 PERCENT M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,4 ...
Monday, 13 March 17
INDO - INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
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Showing 2101 to 2105 news of total 6871 |
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- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- The University of Queensland
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Planning Commission, India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
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