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Tuesday, 07 July 09
RUSSIAN AUDITORS ATTACK COAL EXPORTERS OVER PRICING
Russia's budget is losing substantial revenues because the country's exporters ship coal overseas at artificially low prices through various offshore schemes, Russia's top auditing body said.
A report published on the Audit Chamber website said up to 80 percent of Russian coal exports were going through offshore firms at prices often 30 percent to 54 percent below market rates.
"As a result substantial funds raised from coal sales are accumulated on offshore firms' accounts while Russia's budget is losing a substantial part of tax revenues," the auditing chamber said in a statement.
The investigation follows criticism by Russian Prime Minister Vladimir Putin of the export policies of major Russian coal firms last year.
Putin attacked coking coal producer Mechel for its pricing policies, causing a sharp sell-off of the New York-listed stock.
Russia produced 326 million tonnes of coal last year and exported just over 100 million tonnes with Mechel, SUEK, KuzbassRazrezUgol and Raspadskaya (RASP.MM) being among top producers and exporters.
Source: Reuters
(http://www.reuters.com/article/marketsNews/idUSL757937520090707)
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Thursday, 18 June 09
INDIKA GETS APPROVAL ON PETROSEA ACQUISITION
PT Indika Energy, the country’s third-biggest miner, said on Wednesday that its shareholders had approved its plan to acquire an 81.95 percent ...
Thursday, 18 June 09
MORE FUNDS FOR COAL VIDESH ASSET BUY
The government plans to let Coal Videsh, a subsidiary of Coal India, have more than Rs 1,000 crore at its disposal to shop for assets abroad.
&ld ...
Wednesday, 17 June 09
MINE EXPLOSION'S DEATH TOLL HITS 30 - (UPDATE 1 )
Search and rescue workers have discovered the bodies of 30 miners who were killed in a coal mine explosion in the West Sumatra regency of Sawahlunto ...
Wednesday, 17 June 09
S.KOREA UTILITIES INK '09 COAL CONTRACTS WITH CHINA
* S.Korea to buy 3 mln tonnes of coal from China at $78.50/T
* Talks between individual power firms and miners ongoing
South Korean utilities ...
Wednesday, 17 June 09
MINE BLAST KILLS NINE, BURIES DOZENS
A major mine explosion near Sawahlunto city, West Sumatra, Tuesday, killed at least nine people while more than 30 were buried and are feared ...
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- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Ministry of Mines - Canada
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
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