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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, 31 July 15
CAPE'S PAPER MARKET REMAINS FIRM - INTERMODAL
COALspot.com: The positive sentiment that the Dry Bulk market has been enjoying as of the previous month, was carried through last week as well, bu ...
Friday, 31 July 15
COAL PRODUCTION IN THE U.S. UP 3.6% FOR THE WEEK ENDING JULY 25
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.8 million shor ...
Thursday, 30 July 15
EFFECTS OF THE CHINESE STOCK MARKET CRISIS - INTERMODAL
All evidence is currently signaling that the Chinese stock market will be the newest hurdle for the global economy. With the world's second lar ...
Wednesday, 29 July 15
Q1'16 FOB INDONESIA COAL SWAP CLOSED HIGHER THAN Q3'15
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and gains week over week, this past week.
The Q3 swap was decl ...
Wednesday, 29 July 15
Q4' 15 FOB RICHARDS BAY COAL SWAPS DECLINE 4.41% TO $56.52 PMT
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was down US$ ...
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- Chamber of Mines of South Africa
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- Bangladesh Power Developement Board
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- Sical Logistics Limited - India
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- Bulk Trading Sa - Switzerland
- The University of Queensland
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- New Zealand Coal & Carbon
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- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
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- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Minerals Council of Australia
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- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
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- Wood Mackenzie - Singapore
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- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
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- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
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- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
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- Indian Energy Exchange, India
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- Australian Commodity Traders Exchange
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- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
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- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
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- Indian Oil Corporation Limited
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- Ambuja Cements Ltd - India
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- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
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- European Bulk Services B.V. - Netherlands
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- Merrill Lynch Commodities Europe
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- Coal and Oil Company - UAE
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- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
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- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- MS Steel International - UAE
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
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- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
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- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
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- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
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- Global Business Power Corporation, Philippines
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- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Parliament of New Zealand
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- Ministry of Transport, Egypt
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- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
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- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
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