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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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Wednesday, 22 October 14
CAPESIZE MARKET REMAINED UNDER PRESSURE
COALspot.com: The Dry Bulk market closed on the red for yet another week although following Friday sentiment has started to improve on the back of ...
Tuesday, 21 October 14
LOW DEMAND PUTTING COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost on day, week and month.
The swap has lost US$ 1.57 (-3.04%) month on month ...
Monday, 20 October 14
CHINA'S ENVIRONMENTAL POLICIES DO NOT SPELL THE END FOR COAL - WOOD MACKENZIE
China's environmental policies do not spell the end for coal Analysis across energy commodities show coal still accounting for 64% of power mix ...
Monday, 20 October 14
CFR SOUTH CHINA COAL SWAPS FAILED TO PERFORM POSITIVE
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 3.04 (-4.57%) month over month and US$ 1.75 (-2.68%) week o ...
Sunday, 19 October 14
LOW DEMAND PUSHES DOWN COAL FREIGHT RATES; VOLATILITY CONTINUES
COALspot.com: This week all the segments softened including BDI except for Panamax index.
The BDI was down by1.70 pct and clsoed at 944 points ...
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Showing 3416 to 3420 news of total 6871 |
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- White Energy Company Limited
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
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