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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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- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
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