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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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Thursday, 16 March 17
CAPESIZE: SHOWING STRENGTH; PANAMAX: VERY QUIET - FEARNLEYS
Supramax
The Atlantic market faced less activity from the USG whereas at the Cont tonnage seemed to tighten up with more cargoes emerging. Despit ...
Wednesday, 15 March 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
Over the past two weeks, the Dry Baltic Index has been on an upward trend, breaking the 1000 point mark and creating a positive sentiment for the u ...
Tuesday, 14 March 17
ORDERBOOK-TO-FEET RATIO DECREASING; THE FREIGHT MARKET IMPROVING
It seems as though the renewed optimism that has arisen from the recent upward trends being noted in the freight market, the dry bulk market has be ...
Monday, 13 March 17
PORT OF NEWCASTLE HAS SHIPPED 11.563 MILLION TONS COAL IN FEBRUARY 2017; DECLINED 12.19 PERCENT M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,4 ...
Monday, 13 March 17
INDO - INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
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Showing 2101 to 2105 news of total 6871 |
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- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Parliament of New Zealand
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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