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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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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
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