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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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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Tamil Nadu electricity Board
- Minerals Council of Australia
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
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