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