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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, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- The University of Queensland
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
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