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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, 10 March 17
ESTIMATED U.S. COAL PRODUCTION ALMOST FLAT WEEK ENDED MARCH 4, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Friday, 10 March 17
THE 5TH PHILIPPINES POWER AND ELECTRICITY WEEK RETURNS WITH A UNIQUE FOCUS IN 2017
5th Annual Philippines Power & Electricity
18-21 July 2017
Solaire Resort & Casino,Manila, Philippines
http://www.philippinespowe ...
Thursday, 09 March 17
INDONESIAN COAL BENCHMARK PRICE DROPPED FOR A THIRD STRAIGHT MONTH IN MARCH, GOVERNMENT DATA SHOWED
COALspot.com: Indonesian government declared coal benchmark price dropped for a fourth straight month in March, government data showed. The ...
Wednesday, 08 March 17
THE FREIGHT MARKET TODAY PROVIDES MUCH MORE CONFIDENCE COMPARED TO LAST YEAR - TIMOS PAPADIMITRIOU
So what's all the fuss about? During the past five months SnP activity has being surging exponentially in the dry bulk sector. Buyers are looki ...
Monday, 06 March 17
THE FREIGHT MARKET WAS CONTINUING TO FIRM UP THIS PAST WEEK
COALspot.com: The Freight market was continuing to firm up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk com ...
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- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Minerals Council of Australia
- PTC India Limited - India
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
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