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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, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- Planning Commission, India
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- The University of Queensland
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Australian Coal Association
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
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