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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, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
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