We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 08 October 14
OIL COULD FALL TO USD80 BEFORE SHALE SUPPLY RESPONSE - FITCH
 COALspot.com: Brent oil could fall as low as USD80 a barrel before triggering a self-correcting supply response with shale-oil drillers cutting investment in new wells, Fitch Ratings says.
According to Fitch, the steep rate at which production from shale wells declines mean companies have to keep drilling new wells to maintain production. We estimate median full-cycle costs for US exploration and production companies have fallen to about USD70. The marginal barrel, not the median one, balances supply and demand and determines price, so the point at which capex falls will probably be higher. Exactly where depends on expectations of future price. Anecdotally we understand that at USD90/bbl capex is likely to continue at full speed, while at USD75-80/bbl it may fall. This would have a relatively rapid impact on production, suggesting a notional price floor.
Fitch noted that, in the short term we consider a resurgence of supply disruptions and positive action from OPEC the most likely catalysts for a rebound in prices. But without these, further declines might be possible, especially if evidence grows of further weakening of global demand or increasing OPEC spare capacity.
The notional floor is well below the USD100/bbl level that many market participants thought was here to stay earlier this year. But in the last two weeks Brent crude has fallen - and stayed - significantly below USD100/bbl, and WTI crude has fallen below USD90/bbl for the first time since 2012. The difference between the two benchmarks has shrunk to around USD2.50, and forward curves also indicate weakness, Fitch noted.
The key supports for USD100+ oil were growing demand, tight OPEC spare capacity, increasing cost of supply, particularly combined with rapid depletion rates for shale wells, OPEC's desire for high oil prices, and political and security issues in key regions.
Fitch further noted, demand has been the clearest change in the short term, but is also the element that may most reliably reverse in the long term. If China and India grow as expected demand could rise by up to a third in the next 20-30 years - but this does not preclude short-term weakness.
OPEC has declared support for prices at USD100/bbl. Some members would prefer this price or higher, but we estimate Saudi Arabia, which would have to absorb the greatest production cuts, would be able to balance its budget at USD94/bbl. A lot will therefore ride on the outcome of OPEC's next meeting in November, said Fitch.
The geopolitical and security picture has not resulted in the predicted fall in production. Progress is being made on Iranian sanctions; Iraqi production has remained robust; Libyan production is starting to recover. Market sentiment suggests the effects of these situations will remain benign - but there is potential for this to reverse quite rapidly.
We do not expect rating implications from the price dip in the short term. Our corporate and sovereign ratings use price assumptions that drop over time, and companies and governments have shown themselves able to adjust spending to weaker prices if necessary. The rising US dollar, which has strengthened against the euro by around 10% since the middle of the year, is also contributing to weakness in oil prices when expressed in dollar terms, as our price decks are.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 04 November 14
INDONESIAN COAL SWAPS FOR 2015 DELIVERIES SHOW A WEAK TREND
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost month on month and gained day on day and week on week, the trend was same as las ...
Tuesday, 04 November 14
FOB NEWCASTLE COAL SWAPS GAINED WEEK OVER WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2014 delivery decreased US$ 1.09 (-1.99%) month over month and increased US$ 0.31 (+0.58% ...
Monday, 03 November 14
ADARO PRODUCED 41.90MT OF COAL FOR FIRST 9 MONTHS OF 2014
COALspot.com: Adaro’s coal production in the third quarter reached 14.03 Mt, a 2% increase compared to the same period of last year. Accordin ...
Monday, 03 November 14
CFR SOUTH CHINA COAL SWAP FOR Q4' 2014 DELIVERY LOST 2.80% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery has decreased US$ 1.86 (-2.80%) month over month and increased US$ 0.37 ( ...
Monday, 03 November 14
INDONESIAN'S COAL EXPORTS JUMP IN SEPTEMBER
COALspot.com: Indonesia, one of the world's largest coal producers and the global leading multi grade coal exporter shipped around $1.50 ...
|
|
|
Showing 3396 to 3400 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Deloitte Consulting - India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
|
| |
| |
|
