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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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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Planning Commission, India
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- The University of Queensland
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
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