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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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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Bhatia International Limited - India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Posco Energy - South Korea
- Parliament of New Zealand
- Indonesian Coal Mining Association
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- The University of Queensland
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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