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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, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Planning Commission, India
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
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