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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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Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
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- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Australian Coal Association
- Videocon Industries ltd - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
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