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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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Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Australian Coal Association
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
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