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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, 03 March 17
U.S. WEEKLY COAL PRODUCTION ESTIMATED AT 15.7 MMST; DECLINE 6.7% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 02 March 17
ULTRAMAX: INDONESIA TO INDIA COAL ROUNDS IS BEING FIXED AT AROUND MID 11K BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
Holiday mode within Atlantic i.e. very few movements but rates remained still positive, mostly in the USG region where tight tonnage sup ...
Wednesday, 01 March 17
2017 IS LOOKING LIKE IT WILL BE A GOOD YEAR FOR A NUMBER OF COMMODITIES - LINOS KOGEVINAS
2017 is looking like it will be a good year for a number of commodities. Following the price recovery witnessed in 2016 across a number of commodit ...
Tuesday, 28 February 17
PORT OF NEWCASTLE SHIPPED 17.39% LESS COAL IN JANUARY; TRADE VALUE UP 11.87% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,625.6 M ...
Monday, 27 February 17
THE FREIGHT MARKET WAS FIRMED UP THIS PAST WEEK; BCI ROSE 57.64% W/W
COALspot.com: The Freight market was firmed up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk commod ...
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- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Independent Power Producers Association of India
- Economic Council, Georgia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Thiess Contractors Indonesia
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