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Monday, 09 March 20
OPEC+ 'NO DEAL' A BLOW TO THE MARKET - WOOD MACKENZIE
 Speaking after today’s OPEC+ meeting broke up, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie, said: “Today’s outcome is a psychological blow for the market, as the steep plunge in oil prices shows.
“And the market is now facing the spectre of unrestrained production once the current OPEC+ agreement expires in March.
“However, we do not think Saudi Arabia will push hard to lift their output in the northern hemisphere spring.
“Given weak demand and the likelihood this weakness will persist into the second quarter, it will be hard for any producer to increase their output sharply once the original production deal expires at the end of this month.”
Demand risks
She added: “One factor to bear in mind is that the plunge in demand we saw in Q1 was created by circumstances in China. The country’s coronavirus (Covid-19) containment measures have been far more stringent than those imposed anywhere else, and are not likely to be copied elsewhere.
“The lack of a production deal carries risk. This would become apparent if global economic growth weakens and oil demand continues to contract more sharply than expected thanks to the double whammy of coronavirus containment measures and falling GDP.”
Hittle said: “Our current projection sees global liquids demand fall by 2.7 million b/d year-on-year in the first quarter of 2020, the first year-on-year decline on a quarterly basis since Q2 2009.
“It is the most severe decline since Q4 2008, the height of the 2008-2009 global economic crisis, which saw demand tumble by 2.8 million b/d year-on-year.”
Hittle said: “If the impact the coronavirus has had on global oil demand is sustained, then by the second half of the year we’d expect to see weaker GDP. This will have a far greater impact on oil demand than just temporary reductions in jet fuel and gasoline demand.
“A longer, sustained outbreak of coronavirus threatens to hit oil demand with a double whammy: already weak demand will soften further because of containment measures, and this will weaken GDP.”
What next?
What does this mean for OPEC and OPEC+? It would mean that the group would likely need to monitor economic indicators closely. It may even mean that they could be forced to call an emergency meeting during the second quarter.
She added: “A sustained bout of low oil prices will further reduce cash flow and investment into the US oil patch, causing further hits to Lower 48 production growth later this year. It takes at least six to nine months for reductions in spend to lead to lower oil production in the US Lower 48.
“In that time, their access to capital may be limited and their free cash flow badly hit.
“The only silver lining in a very dark cloud is for refining – the sector will be hit hard by weak demand, but it is at least saved from tightening crude differentials associated with a major cut in OPEC supplies.”
Source: Wood Mackenzie
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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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Showing 11 to 15 news of total 6871 |
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- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- The University of Queensland
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
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