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