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Friday, 24 February 17
RUSSIAN OIL AND GAS WITHSTANDS OIL PRICE SHOCK - FITCH RATINGS
 Fitch Ratings says in a new report that the Russian oil and gas sector has withstood the oil price stock of 1H16. Key events of 2016 include record crude production levels, Rosneft's acquisition of Bashneft in October 2016 and subsequent privatisation, as well as Gazprom's record gas sales to Europe.
According to Fitch Ratings the completed EUR10.2bn sale of a 19.5% stake in Rosneft to Glencore and the Qatar Investment Authority (QIA) is an important milestone for the sector. The ownership structure of the joint venture appears transparent: Fitch understands the joint venture that holds the stake in Rosneft is owned in equal shares by Glencore and QIA. Fitch does not rate Rosneft and therefore does not have detailed information on the transaction, but information reviewed by Fitch to date has confirmed the shareholding structure and fully resolved the agency's other questions raised at the Oil & Gas conference: "The Time for Cautious Optimism in Moscow on 15 February 2017".
In September-October 2016, Russia increased oil production by some 500,000 barrels of oil equivalent to the record volume of 11.23 million barrels of oil equivalent (mmboepd), mainly due to the launch of and continuing ramp-up across several large greenfields. Following the OPEC deal at end-November 2016, Russia agreed to cut production by some 300mboepd, bringing the post-deal volumes to 10.9mmboepd.
Fitch Ratings further noted that, in 9M16, production from certain Russian oil brownfields increased and natural decline rates moderated, mainly on significantly higher production drilling volumes that some producers demonstrated. Brownfield taxation remains high - the mineral royalty (MET) and the export duty account for 50%-60% of a typical brownfield's revenue - limiting further brownfield production growth potential.
Most Fitch-rated Russian oil and gas companies are on Stable Outlook. The Stable Outlook is driven by our expectation of stable crude production volumes and improving upstream profitability on higher forecast oil prices. Unlike their western European peers, Russian oil and gas companies did not significantly reduce capex or headcount in 2016.
Falling oil prices and taxation changes lowered downstream profitability in 9M16, resulting in higher crude exports and a 20% reduction in fuel oil production. We forecast Russian downstream to continue performing at levels similar to or slightly better than those in 2016, said Fitch Ratings.
Due to competitive gas prices and cold weather, Gazprom posted record high gas sales in Europe in 2016, while its financial results suffered from falling average gas prices. We expect Gazprom's funds from operations (FFO) net leverage to increase to around 2x on high capex; nonetheless, the leverage remains within our rating guidance.
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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
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Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Planning Commission, India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
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