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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, 08 October 14
IS THERE ANY BRIGHT SIDE ON THE DRY BULK SEGMENT? - YANNIS OLZIERSKY
In the movie “Life Of Brian”, a character on a nearby cross was singing the famous “Always look on the bright side of life” ...
Tuesday, 07 October 14
TAIPOWER TO IMPORT 525K MT OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com: Taiwan Power Company intends to procure 525,000 metric tons of low ash and extra low sulfur sub-bituminous coal for Taipower thermal ...
Tuesday, 07 October 14
SUB-BIT FOB INDONESIA COAL SWAP SHOWS A FLAT TO WEAK TREND THIS PAST WEEK
COALspot.com: Indonesian coal swaps November 2014 delivery flat week on week and gained US$ 0.10 (-0.20%) per mt day on day. The swap also lost US$ ...
Tuesday, 07 October 14
THE RIO TINTO CONFIRMS THAT NO DISCUSSIONS ARE TAKING PLACE WITH GLENCORE
COALspot.com: The board of Rio Tinto notes the recent press speculation regarding a possible combination of Rio Tinto and Glencore.The Rio Tinto bo ...
Tuesday, 07 October 14
API 8 CFR SOUTH CHINA COAL SWAP HEADED SOUTH
COALspot.com: API 8 CFR South China Coal swap for delivery in November 2014 decreased US$ 1.10 (-1.64%) month over month and US$ 0.25 (-0.38%) ...
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Showing 3446 to 3450 news of total 6871 |
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- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Price Waterhouse Coopers - Russia
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