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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, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
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- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- The University of Queensland
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Planning Commission, India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- White Energy Company Limited
- Australian Coal Association
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
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