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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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Friday, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Videocon Industries ltd - India
- The Treasury - Australian Government
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Trasteel International SA, Italy
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Parliament of New Zealand
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
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