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Thursday, 03 October 19
OIL PRICE ASSUMPTIONS UNCHANGED, NBP GAS PRICE LOWERED - FITCH RATINGS PRIMARY - FITCH RATINGS
 Our oil price assumptions are unchanged, despite the recent price volatility following the attacks on Saudi Arabia's oil infrastructure, Fitch Ratings says. We have revised down the National Balancing Point (NBP) gas price assumptions as we now anticipate a slower recovery in European natural gas prices due to a supply glut in the LNG market and slower economic growth prospects globally.
Oil prices spiked in the aftermath of the attacks in Saudi Arabia, but have since subsided. According to media reports, Saudi Aramco has made progress in restoring production, although we assume full recovery of capacity to levels available pre-attack could take time. We believe that disruptions ultimately will have a limited impact on the supply-demand balance this year, especially as the market remains otherwise well-supplied. We have kept our price deck assumption for Brent at USD65/bbl for 2019, though we expect volatility to remain significant in 4Q19, Fitch Ratings says in its latest report.
The attack highlighted the vulnerability of oil-producing infrastructure, not only in Saudi Arabia, but also elsewhere in the Middle East, although it has not caused us to change our fundamental view on the sector. An escalation of geopolitical tensions in the Gulf region, such as further attacks or a military conflict, could lead to higher prices, at least temporarily, due to the effect on the physical market or a 'geopolitical premium'.
Fitch Ratings further noted that, Fitch Ratings still assumes an average Brent price to be marginally lower at USD62.5/bbl in 2020 compared to 2019, due to waning demand and increased supply from continued US shale growth and recovered production in Saudi Arabia. However, we also expect OPEC+ to manage supply to avoid large surpluses or deficits. In 2020, the coming into force of International Maritime Organization Sulphur 2020 regulation could support demand for Brent and WTI, which are low-sulphur oil grades. The long-term price of USD57.5/bbl for Brent takes into account our view on the marginal costs of oil production.
Fitch Ratings lowered their NBP prices for 2019-2021. European spot natural gas prices collapsed in 1Q19. Increased supply from new LNG plants in the US and elsewhere was not matched by sufficient demand growth. In 9M19 the NBP price averaged USD4.7/mcf, compared with USD8.1/mcf in 9M18. Furthermore, the daily closing price has fluctuated between USD2.4 and USD3.9/mcf since the beginning of August. Prices are likely to rise in 4Q19 when the heating season starts. However, we expect the recovery to be slow given unusually high volumes of gas accumulated in European underground storage facilities and slowing demand.
According to latest report, Fitch Ratings believes that re-balancing in the gas market may take longer than we had anticipated primarily due to lower Chinese growth. China was the major driver for LNG demand and accounted for 48% of global demand growth over the past five years (2014-2018), followed by Europe (19%) and India (12%), according to BP. However, Chinese LNG demand may wane because of slowing economic growth amid the US-China trade war. China's authorities expect its annual gas consumption growth to decelerate to 10% yoy in 2019 from 17.5% in 2018.
According Fitch Ratings recent repot, the Fitch Ratings's long-term view on NBP is unchanged. While more active LNG trade is likely to result in narrower differentials between various hubs, we believe the USD3.75/mcf spread between Henry Hub and NBP we currently assume in the long-term assumptions is reasonable and accounts for full-cycle costs of delivering natural gas from the US to Europe.
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Monday, 04 November 19
COAL INDIA'S OCTOBER PRODUCTION MAY FALL 20% - PTI
Coal India’s production in October is likely to be 19-20 per cent lower at about 40 million tonne, as compared to 49.77 million tonne produce ...
Monday, 04 November 19
PANAMAX: WEAKER SENTIMENTS CONTINUED FROM LAST WEEK, WITH RATES FURTHER SOFTENING IN BOTH BASINS - BALTIC BRIEFING
Capesize
The Capesize market meandered slightly upwards this week before giving back much of its gains mid-week. Opening the week at $24,945, t ...
Thursday, 31 October 19
U.S. COAL-FIRED POWER PLANTS SCHEDULED TO SHUT - REUTERS
U.S. power companies expect to retire or convert from coal to gas over 13,800 megawatts (MW) of coal-fired plants in 2019 after shutting over 13,30 ...
Thursday, 31 October 19
SE ASIA MAY BECOME NET FOSSIL FUEL IMPORTER IN COMING YEARS - IEA
Southeast Asia is set to become a key driver of world energy trends over the next 20 years as its energy demand grows at twice the global average, ...
Monday, 28 October 19
ULTRAMAX: ASIA RATES REMAINED UNDER PRESSURE WITH THE NORTH LACKING FRESH ENQUIRY - BALTIC BRIEFING
Capesize
The end of the week brought about a small increase in sentiment heading into a long weekend for some regions. After sustaining a drop ...
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Showing 1296 to 1300 news of total 6871 |
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- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- CNBM International Corporation - China
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- The University of Queensland
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
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