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