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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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- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Planning Commission, India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
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