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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, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- The University of Queensland
- Indian Oil Corporation Limited
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Australian Coal Association
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- PTC India Limited - India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- ASAPP Information Group - India
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