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Friday, 31 July 15
CHINA'S NEW OIL IMPORT RULES HAVE MINIMAL IMPACT ON STATUS QUO - FITCH
 Fitch Ratings says that China's looser criteria for crude oil import rights are a positive but modest step towards encouraging private-sector participation in the country's refining industry. The rating agency believes the established state-owned players will maintain their dominant market position in the country's oil and gas sector in the near to mediumn term.
China's Ministry of Commerce announced on 23 July that refiners or petrochemicaln companies that have at least one crude distillation unit with minimum yearly processing capacity of 2 million tonnes, oil storage capacity of 300,000 tonnes, and an available credit line of USD1bn from commercial banks, among other criteria, would be eligible to apply for a licence to import crude oil. Previously, the criteria included two years' experience in importing oil, which effectively ruled out many private refiners.
Fitch views this as only an initial step towards increasing private-sector participation in a market that has been dominated by state-owned enterprises (SOEs). Independent refiners' profitability could be enhanced, as those with an import license will be able to source for crude oil from more than just the country's current five designated importers, which include the three biggest oil and gas SOEs.
This latest change and the liberalisation of oil product prices that was effective September 2013 will encourage the upgrading or phasing-out of inefficient, small-scale facilities.
The incentives for private-sector companies to expand in China's refining industry, though, remain limited by regulation of oil product exports, domestic product price controls (albeit loosened), and limited domestic marketing channels. The slower demand growth in the near term and refining overcapacity, especially for diesel, would also reduce the benefits from the new rules.
The Big Three oil and gas SOEs - China National Petroleum Corporation (CNPC,A+/Stable), China Petroleum & Chemical Corporation (Sinopec, A+/Stable) and CNOOC Limited (A+/Stable) - account for over 70% of the country's refining capacity. Fitch does not expect the three companies' strong market positions and strategic importance to the state to be eroded in the foreseeable future, although their oil trading profits may be modestly trimmed. The new rules mark a continuation of the government's push for more private-sector participation in the oil and gas sector, in the same vein as Sinopec's sale of part of its marketing unit in 2014 and CNPC's disposal of some of its pipeline assets in 2013.
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
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- Edison Trading Spa - Italy
- The University of Queensland
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- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
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- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Australian Coal Association
- Eastern Coal Council - USA
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