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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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Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
Saturday, 25 March 23
ASIAN CRUDE PALM OIL WATCH 1Q23 - FITCH RATINGS
Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of ar ...
Saturday, 25 March 23
INDONESIA’S COAL EXPORT INCREASED BY 21.0% YOY TO 388.4 MLN T IN 2022 - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels. In the f ...
Saturday, 25 March 23
GLOBAL LNG-ASIA SPOT PRICES SLIP AS WEAK NORTHERN DEMAND REMAINS - REUTERS
Asian spot prices of liquefied natural gas (LNG) declined this week, falling to a 21-month low, as weak demand in the northeast Asia region continu ...
Wednesday, 22 March 23
OIL PRICE FALL SPECULATIVE, TO HIT $140 BY YEAR-END -ANDURAND: REUTERS
The recent fall in oil prices due to banking jitters is speculative and oil will hit $140 a barrel by the end of the year, hedge fund manager Pierr ...
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- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
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