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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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Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
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- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- The University of Queensland
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Economic Council, Georgia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Australian Coal Association
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
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