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Friday, 31 July 15
CHINA'S NEW OIL IMPORT RULES HAVE MINIMAL IMPACT ON STATUS QUO - FITCH
 Fitch Ratings says that China's looser criteria for crude oil import rights are a positive but modest step towards encouraging private-sector participation in the country's refining industry. The rating agency believes the established state-owned players will maintain their dominant market position in the country's oil and gas sector in the near to mediumn term.
China's Ministry of Commerce announced on 23 July that refiners or petrochemicaln companies that have at least one crude distillation unit with minimum yearly processing capacity of 2 million tonnes, oil storage capacity of 300,000 tonnes, and an available credit line of USD1bn from commercial banks, among other criteria, would be eligible to apply for a licence to import crude oil. Previously, the criteria included two years' experience in importing oil, which effectively ruled out many private refiners.
Fitch views this as only an initial step towards increasing private-sector participation in a market that has been dominated by state-owned enterprises (SOEs). Independent refiners' profitability could be enhanced, as those with an import license will be able to source for crude oil from more than just the country's current five designated importers, which include the three biggest oil and gas SOEs.
This latest change and the liberalisation of oil product prices that was effective September 2013 will encourage the upgrading or phasing-out of inefficient, small-scale facilities.
The incentives for private-sector companies to expand in China's refining industry, though, remain limited by regulation of oil product exports, domestic product price controls (albeit loosened), and limited domestic marketing channels. The slower demand growth in the near term and refining overcapacity, especially for diesel, would also reduce the benefits from the new rules.
The Big Three oil and gas SOEs - China National Petroleum Corporation (CNPC,A+/Stable), China Petroleum & Chemical Corporation (Sinopec, A+/Stable) and CNOOC Limited (A+/Stable) - account for over 70% of the country's refining capacity. Fitch does not expect the three companies' strong market positions and strategic importance to the state to be eroded in the foreseeable future, although their oil trading profits may be modestly trimmed. The new rules mark a continuation of the government's push for more private-sector participation in the oil and gas sector, in the same vein as Sinopec's sale of part of its marketing unit in 2014 and CNPC's disposal of some of its pipeline assets in 2013.
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Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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 ...
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- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- The University of Queensland
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
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