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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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Friday, 17 October 14
INTERNATIONAL COAL PRICES ARE AT LOWEST LEVEL; COAL STOCKS AT INDIAN POWER PLANTS ARE ALSO AT LOWEST LEVEL
International coal prices as well as coal freights are falling and reaching to its lowest levels. According to PTI, fuel stockpiles at the thermal ...
Friday, 17 October 14
U.S. COAL PRODUCTION UP BY 3.6% WEEK - ON - WEEK
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.20 million short tons (mmst) of coal in ...
Friday, 17 October 14
DRY BULK SHIPPING'S OUTLOOK NOW SHIFTING TO A LESS PROMISING ONE, SHIP PRICES EXPECTED TO FOLLOW SOON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
China’s and other Asian countries’ return to the dry bulk market last week, didn’t trigger the hoped support towards the dry bulk ...
Thursday, 16 October 14
KOREA MIDLAND POWER TO BUY 490K MT OF LCV COAL FOR 1Q 2015
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 490,000 Metric Tons (MT) of LCV (Sub) Bitumino ...
Thursday, 16 October 14
PANAMAX OWNERS RECEIVE A PREMIUM FOR GOING TO INDIA VIA INDONESIA - FEARNLEYS AS
Handy
The Handy/Supra market continues to slide in both hemispheres, said Fearnleys AS in its latest week report. In the Atlantic we see rates co ...
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Showing 3421 to 3425 news of total 6871 |
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- Mercator Lines Limited - India
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- MS Steel International - UAE
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Australian Coal Association
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
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