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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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- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
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