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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, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Parliament of New Zealand
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Posco Energy - South Korea
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
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