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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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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- The University of Queensland
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- PTC India Limited - India
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
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