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