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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, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Marubeni Corporation - India
- VISA Power Limited - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- The University of Queensland
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Australian Coal Association
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- MS Steel International - UAE
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