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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, 13 October 14
INDONESIAN COAL SWAPS FOR DELIVERY Q4' 2014 GAINED WEEK ON WEEK AND DAY ON DAY
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 gained week on week and day on day.
The swap lost US$ 0.13 (-0.25%) month on mon ...
Monday, 13 October 14
Q1' 2015 CFR SOUTH CHINA COAL SWAP CLOSED US$ 0.31 PMT HIGHER THAN Q4' 2014 CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 0.66 (-1.00%) month over month and US$ 0.40 (-0.61%) ...
Sunday, 12 October 14
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO BE WEAK - VISTAAR
COALspot.com: This week all the segments softened. The BDI down 7.13 pct week on week and closed below 1000 points at 963 points.
The Cape ind ...
Saturday, 11 October 14
COAL PRODUCTION RISES ONLY SLIGHTLY AS GOVT LIMITS MINING OPERATIONS - THE JAKARTA POST
Indonesian coal production rose by only 4 percent in the first nine months of this year, a relatively low increase compared to previous years, as t ...
Friday, 10 October 14
INDONESIA TO DEVELOP DOWNSTREAM COAL INDUSTRY - JP
The government is planning to launch a program to develop the downstream coal industry to increase the commodity’s added value, an official h ...
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Showing 3436 to 3440 news of total 6871 |
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- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- PTC India Limited - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
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