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Friday, 16 October 15
INDONESIA REJOINING OPEC DESPITE BEING A NET IMPORTER OF PETROLEUM - EIA
.jpg) The Organization of the Petroleum Exporting Countries (OPEC) notified Indonesia that it plans to accept the country's request to reactivate its membership at the next OPEC meeting in December.
According to EIA, once it rejoins, Indonesia will regain its status as the only Asian member of OPEC and the only member that is a net importer of petroleum and other liquids.
OPEC, founded in 1960, currently has 12 members, but membership has always been fluid—Ecuador suspended its membership in 1992 and rejoined in 2007; Gabon joined in 1975 and terminated its membership in 1995.
Indonesia originally joined OPEC in 1962 but suspended its membership at the beginning of 2009. OPEC does allow for associate membership, but currently all 12 members are full members.
EIA further says, Indonesia's decision to suspend its OPEC membership was prompted by growing internal demand for energy, declining crude oil and condensate production in mature fields, and limited investment to increase production capacity. Indonesia had become a net importer of petroleum and other liquids by 2004 after domestic demand exceeded production, as Indonesia's production of petroleum and other liquids has been on a general decline since the mid-1990s. Indonesia produced about 790,000 barrels per day (b/d) of crude oil and condensates in 2014, the third-lowest level among OPEC countries.
According to OPEC's statute, the organization allows as a member any country that is a substantial net crude oil exporter, has similar interests to the organization, and is accepted by three-fourths of the full members. Although Indonesia is a net oil importer, the country continues to export crude oil and condensates. Because Indonesia is an archipelago, geographic distances between its domestic oil production and demand centers encourage both imports and exports. Despite its growing oil demand, Indonesia's oil and natural gas sectors continue to be an important part of the country's economy. Indonesia imports oil products, particularly gasoline, as a result of insufficient refining capacity to meet the growing demand for oil products.
Indonesia said that rejoining OPEC will strengthen its cooperation with oil-producing countries, provide greater access to crude oil supplies, and allow the country to be a link between energy producers and consumers. Indonesia currently buys crude oil and petroleum products through third parties or traders and wants direct access to long-term crude oil supply contracts through negotiations made between the national oil companies of OPEC members.
Indonesia anticipates more crude oil imports will be needed to meet domestic demand from refining capacity additions. Indonesia is planning a number of upgrades and expansions to existing refineries slated to become operational within the next decade. Indonesia has also proposed to build four new refineries, each having a capacity of 300,000 b/d. Because Indonesia struggles with the level of investment needed to offset oil and natural gas production declines and a lack of adequate infrastructure, it hopes to attract investment in both its upstream and downstream sectors from OPEC members. Indonesia is currently in discussions with several OPEC countries about crude oil supply deals and investments in refinery projects
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Sunday, 18 October 15
THE BDI AND OTHER INDICES CLOSED OFF ON NEGATIVE NOTE THIS FRIDAY
COALspot.com: The BDI closed off on negative note this Friday compared to previous Friday's closing.
The BDI closed this Friday (16 Octobe ...
Friday, 16 October 15
MAJOR REVISION OF NYPE TIME CHAPTER PARTY - BIMCO
Major revision of NYPE time charter party promises to be both balanced and comprehensive
BIMCO has today jointly issued the first revision of ...
Friday, 16 October 15
FOB INDONESIA COAL SWAP FOR Q4'15 DELIVERY FLAT WEEK OVER WEEK; DOWN 5.5 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and flat week over week.
The Q4 swap declined $ 2.23 (-5.51%) ...
Friday, 16 October 15
COAL PRODUCTION IN THE UNITED STATES DECREASED THIS WEEK; DOWN 11.3 PER CENT Y-Y, DOWN 3.5 PERCENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.1 million shor ...
Thursday, 15 October 15
INDONESIA COAL PRICE REFERENCE FALLS FOR SEVEN STRAIGHT MONTH IN OCTOBER
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price this month.
The ...
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- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
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