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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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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
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Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
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