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