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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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Sunday, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
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- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- The University of Queensland
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- White Energy Company Limited
- Parliament of New Zealand
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
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