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Tuesday, 21 October 14
INDIA'S DIESEL DEREGULATION POSITIVE FOR OIL COMPANIES - FITCH
 The Indian government's 18 October decision to deregulate diesel prices will have a positive effect on the national oil marketing companies that are the principal retailers of petroleum products, says Fitch Ratings. The decision is also likely to lead to more private firms entering the diesel market in the medium term, resulting in greater competition.
The decision to deregulate diesel prices is well-timed in light of the recent decline in international energy prices. The expected direct impact of both the diesel reform and natural gas price hike on Fitch's headline fiscal forecasts is limited; but the fiscal balances will be more robust to future oil shocks, since both diesel and petrol prices are now determined by the market. Furthermore, implementation of these politically sensitive reforms demonstrates that the government continues to roll out structural reforms gradually, and suggests that more far-reaching structural reforms may be in the pipeline.
The national oil marketing companies - Indian Oil, Bharat Petroleum and Hindustan Petroleum - will be the principal direct beneficiaries of deregulation, and the decision is positive for these companies' standalone credit profiles. Under the previous rules, these retailers had to sell diesel (accounting for 40% of fuel sold) below market prices, and were partially compensated for the losses through the federal budget. Furthermore, the price control and subsidy system affected the working-capital positions of these companies, as there was a timing mismatch between the recognition of losses on sales and compensation from government - leading to higher debt.
The other beneficiaries are likely to be upstream oil companies such as Oil and Natural Gas Ltd and Oil India Ltd, which also bore a large part of the subsidy burden. These companies offered a USD56 per barrel discount to the national oil marketing companies - especially challenging when considering the fall in crude prices to around USD85. Fitch expects that the discount is likely to come down.
Fitch anticipates that deregulation will result in heightened competition for the existing dominant national retailers, and could hurt their profitability over the medium to long term. By allowing diesel to be marketed profitably, the sector will once again be attractive for private companies that had left when price restrictions were put in place. A large portion of the output of private refiners is exported, due in part to the restrictions placed on domestic sales. Private firms such as Reliance Industries and Essar Oil are likely to restart idled diesel retail operations, and should ultimately become more significant players. Their impact on the sector would not be seen immediately, though, as they would have to play catch-up to restart and establish retail infrastructure.
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Monday, 27 October 14
CFR SOUTH CHINA COAL SWAPS PERFORMED POSITIVE THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 1.68 (-2.55%) month over month and increased US$ 0.87 (+1.3 ...
Sunday, 26 October 14
CAPE'S STRONG PERFORMANCE PUSHES BDI INDEX UPWARDS
COALspot.com: The BDI was up by 26.27 pct and closed at 1192 points week and week. The Cape size performance has pushed up BDI and Cape size index ...
Friday, 24 October 14
WEEKLY U.S COAL PRODUCTION DOWN 2.7% FOR THE WEEK ENDING OCTOBER 18
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.7 million short tons (mmst) of coal in ...
Thursday, 23 October 14
THE BEARS, HOWEVER, STILL CRY; FOR HOW LONG WILL IT LAST? - FEARNLEYS
Handy
"We experience a typical oversupply of ships in the Atlantic which causing rates to slide. In the USG it is just enough cargoes to kee ...
Wednesday, 22 October 14
MARKET INSIGHT - THEODORE NTALAKOS, INTERMODAL
ECO designs - revisited
The ECO vessels are already here but the oil and bunker prices are plummeting to their cheapest level since 2010. Is this ...
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Showing 3411 to 3415 news of total 6871 |
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- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Bhatia International Limited - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Planning Commission, India
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Australian Coal Association
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
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