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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, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
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