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