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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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Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
Saturday, 25 March 23
ASIAN CRUDE PALM OIL WATCH 1Q23 - FITCH RATINGS
Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of ar ...
Saturday, 25 March 23
INDONESIA’S COAL EXPORT INCREASED BY 21.0% YOY TO 388.4 MLN T IN 2022 - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels. In the f ...
Saturday, 25 March 23
GLOBAL LNG-ASIA SPOT PRICES SLIP AS WEAK NORTHERN DEMAND REMAINS - REUTERS
Asian spot prices of liquefied natural gas (LNG) declined this week, falling to a 21-month low, as weak demand in the northeast Asia region continu ...
Wednesday, 22 March 23
OIL PRICE FALL SPECULATIVE, TO HIT $140 BY YEAR-END -ANDURAND: REUTERS
The recent fall in oil prices due to banking jitters is speculative and oil will hit $140 a barrel by the end of the year, hedge fund manager Pierr ...
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- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
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