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Thursday, 28 July 16
FITCH RAISES CORPORATE OIL PRICE ASSUMPTION FOR 2016 TO USD42
 Fitch Ratings has raised the 2016 oil price assumptions it uses when rating energy-sector corporates, but expects record high inventories to slow any further price increases.
We assume Brent and WTI will average USD42 a barrel in 2016, up from our USD35/bbl base case in February. The increase follows evidence that the market will come into balance in the second half of 2016, which has already been reflected in a year-to-date average price of USD41/40 for Brent/WTI.
However, we do not believe that the rapid price recovery seen in the first half of 2016 will continue. The sub-USD30 prices at the start of the year approached cash costs for many producers and were unsustainable in all but the very short term. Prices in the USD40-USD50 range allow most producers to break even on a cash basis, if not to cover sunk costs.
We believe that record high inventories - OECD stocks are still more than 10% higher than normal - and market expectations that US shale production will begin to rebound at prices above USD50, will keep prices below that level until a supply deficit has eroded some of the inventory overhang.
We have therefore left our 2017 and 2018 price assumptions unchanged at USD45 and USD55 respectively. Our long-term expectations for both Brent and WTI are unchanged at USD65, reflecting our view on the long-run marginal cost of supply.
Our natural gas expectations have also changed, with price assumptions for US Henry Hub rising and UK National Balancing Point (NBP) falling. In the US, the market has begun to work through the excess inventory build-up associated with last year's El Nino winter. Slower production growth in key shale plays has also helped. For NBP, increased US gas exports have contributed to a medium-term LNG glut, which we expect to put pressure on international spot prices.
Our Henry Hub price assumptions are USD2.35/mcf in 2016, rising to USD2.75 in 2017, USD3.00 in 2018 and USD3.25 in the long term. For NBP we assume a price of USD5.00/mcf for 2016, USD5.50 in 2017, USD6.00 in 2018 and USD6.50 in the long term.
Source: Fitch Ratings
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
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