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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, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- White Energy Company Limited
- The University of Queensland
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Planning Commission, India
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
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