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Saturday, 06 August 22
SUMITOMO Q1 PROFIT RISES 45% ON STRONGER PRICES OF COAL, NICKEL - REUTERS
Japanese trading house Sumitomo Corp 8053.T said on Wednesday its net profit for the April-June quarter rose 45% to a record thanks to higher prices of commodities such as coal and nickel as well as strong demand for steel products in North America.
Net profit for the three months climbed to a record 155.2 billion yen ($1.2 billion) from 107.3 billion yen a year earlier, but the company stuck to its annual profit forecast of 370 billion yen.
“Earnings from both resource and non-resource businesses have been stronger than anticipated earlier,” Sumitomo Chief Financial Officer Reiji Morooka told a news conference, adding that it may raise its profit guidance.
“On the other hand, the risk of a global economic slowdown and other uncertainties are increasing, and we will closely examine full-year forecasts going forward,” he said.
Sumitomo expects nickel production at its Ambatovy project in Madagascar to achieve its initial target of about 40,000 tonnes this financial year to March 31, after producing about 8,000 tonnes in the first quarter.
Increased oil and gas drilling activities in North America have also supported its steel pipe business in the April-June quarter and the company sees robust demand in pipes continuing through next March, Morooka said.
Asked whether Sumitomo expects any change in its business strategy in China amid rising tensions between China and Taiwan as well as China and the United States following U.S. House Speaker Nancy Pelosi’s visit to Taiwan, Morooka said no change is planned.
“It has become a major issue for us to think of how to deal with the heightened geopolitical risks triggered by not only the U.S.-China issue but also the Russia-Ukraine conflict,” Morooka said.
“We will pay close attention to the (U.S.-China) situation with high interest,” he said.
Source: Reuters
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Tuesday, 26 July 22
WILL SOUTH AMERICA’S WINTER DEMAND DRAW LNG CARGOES AWAY FROM EUROPE? - ICIS
South America is now in the middle of its winter demand season. Last year the region increased its share of global LNG imports in winter, with Braz ...
Monday, 25 July 22
GLOBAL 2021 COAL-FIRED ELECTRICITY GENERATION SURGES TO RECORD HIGH - REUTERS
By contrast, mine output was still fractionally below the record set between 2012 and 2014 because older and less efficient coal generators have be ...
Saturday, 23 July 22
THE EU HAS BEEN REDUCING IMPORTS OF RUSSIAN REFINED OIL PRODUCTS SINCE MARCH - BANCHERO COSTA
The European Union could now ban the import and transit of fuel oil from Russia around six months ahead of the planned deadline, an EU official and ...
Saturday, 23 July 22
INDONESIA CONSIDERING SCRAPPING DOMESTIC SALES RULE FOR PALM OIL EXPORTS - REUTERS
Indonesia is considering removing a domestic sales requirement for palm oil exports because high inventories of the vegetable oil have been holding ...
Saturday, 23 July 22
STABILITY OF RUSSIAN GAS FLOWS REMAIN UNCERTAIN, DESPITE THE REOPENING OF NORD STREAM - WOOD MACKENZIE
Gazprom confirmed today that regular annual maintenance of Nord Stream is officially over and gas flows restarted at 63 million cubic metres per da ...
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- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- The University of Queensland
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Planning Commission, India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Economic Council, Georgia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
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