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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, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...
Sunday, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy.
...
Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...
Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...
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- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- PTC India Limited - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
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