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