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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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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Australian Coal Association
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
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