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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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Showing 31 to 35 news of total 6871 |
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- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- ASAPP Information Group - India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
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