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Thursday, 03 October 19
OIL PRICE ASSUMPTIONS UNCHANGED, NBP GAS PRICE LOWERED - FITCH RATINGS PRIMARY - FITCH RATINGS
 Our oil price assumptions are unchanged, despite the recent price volatility following the attacks on Saudi Arabia's oil infrastructure, Fitch Ratings says. We have revised down the National Balancing Point (NBP) gas price assumptions as we now anticipate a slower recovery in European natural gas prices due to a supply glut in the LNG market and slower economic growth prospects globally.
Oil prices spiked in the aftermath of the attacks in Saudi Arabia, but have since subsided. According to media reports, Saudi Aramco has made progress in restoring production, although we assume full recovery of capacity to levels available pre-attack could take time. We believe that disruptions ultimately will have a limited impact on the supply-demand balance this year, especially as the market remains otherwise well-supplied. We have kept our price deck assumption for Brent at USD65/bbl for 2019, though we expect volatility to remain significant in 4Q19, Fitch Ratings says in its latest report.
The attack highlighted the vulnerability of oil-producing infrastructure, not only in Saudi Arabia, but also elsewhere in the Middle East, although it has not caused us to change our fundamental view on the sector. An escalation of geopolitical tensions in the Gulf region, such as further attacks or a military conflict, could lead to higher prices, at least temporarily, due to the effect on the physical market or a 'geopolitical premium'.
Fitch Ratings further noted that, Fitch Ratings still assumes an average Brent price to be marginally lower at USD62.5/bbl in 2020 compared to 2019, due to waning demand and increased supply from continued US shale growth and recovered production in Saudi Arabia. However, we also expect OPEC+ to manage supply to avoid large surpluses or deficits. In 2020, the coming into force of International Maritime Organization Sulphur 2020 regulation could support demand for Brent and WTI, which are low-sulphur oil grades. The long-term price of USD57.5/bbl for Brent takes into account our view on the marginal costs of oil production.
Fitch Ratings lowered their NBP prices for 2019-2021. European spot natural gas prices collapsed in 1Q19. Increased supply from new LNG plants in the US and elsewhere was not matched by sufficient demand growth. In 9M19 the NBP price averaged USD4.7/mcf, compared with USD8.1/mcf in 9M18. Furthermore, the daily closing price has fluctuated between USD2.4 and USD3.9/mcf since the beginning of August. Prices are likely to rise in 4Q19 when the heating season starts. However, we expect the recovery to be slow given unusually high volumes of gas accumulated in European underground storage facilities and slowing demand.
According to latest report, Fitch Ratings believes that re-balancing in the gas market may take longer than we had anticipated primarily due to lower Chinese growth. China was the major driver for LNG demand and accounted for 48% of global demand growth over the past five years (2014-2018), followed by Europe (19%) and India (12%), according to BP. However, Chinese LNG demand may wane because of slowing economic growth amid the US-China trade war. China's authorities expect its annual gas consumption growth to decelerate to 10% yoy in 2019 from 17.5% in 2018.
According Fitch Ratings recent repot, the Fitch Ratings's long-term view on NBP is unchanged. While more active LNG trade is likely to result in narrower differentials between various hubs, we believe the USD3.75/mcf spread between Henry Hub and NBP we currently assume in the long-term assumptions is reasonable and accounts for full-cycle costs of delivering natural gas from the US to Europe.
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Monday, 04 November 19
COAL INDIA'S OCTOBER PRODUCTION MAY FALL 20% - PTI
Coal India’s production in October is likely to be 19-20 per cent lower at about 40 million tonne, as compared to 49.77 million tonne produce ...
Monday, 04 November 19
PANAMAX: WEAKER SENTIMENTS CONTINUED FROM LAST WEEK, WITH RATES FURTHER SOFTENING IN BOTH BASINS - BALTIC BRIEFING
Capesize
The Capesize market meandered slightly upwards this week before giving back much of its gains mid-week. Opening the week at $24,945, t ...
Thursday, 31 October 19
U.S. COAL-FIRED POWER PLANTS SCHEDULED TO SHUT - REUTERS
U.S. power companies expect to retire or convert from coal to gas over 13,800 megawatts (MW) of coal-fired plants in 2019 after shutting over 13,30 ...
Thursday, 31 October 19
SE ASIA MAY BECOME NET FOSSIL FUEL IMPORTER IN COMING YEARS - IEA
Southeast Asia is set to become a key driver of world energy trends over the next 20 years as its energy demand grows at twice the global average, ...
Monday, 28 October 19
ULTRAMAX: ASIA RATES REMAINED UNDER PRESSURE WITH THE NORTH LACKING FRESH ENQUIRY - BALTIC BRIEFING
Capesize
The end of the week brought about a small increase in sentiment heading into a long weekend for some regions. After sustaining a drop ...
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Showing 1296 to 1300 news of total 6871 |
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- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- White Energy Company Limited
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
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