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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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Monday, 17 July 23
APPROVED AMMONIA-FUELED CONTAINERSHIP - BENEFITS AND RISKS: REED SMITH
Following the news in Offshore Energy that Korea Maritime Consultants has secured approval in principle from the American Bureau of Shipping for it ...
Friday, 14 July 23
CLEAN COAL USE KEY TO DEEP CUTS IN EMISSIONS, STABLE ELECTRICITY SUPPLY - CHINA DAILY
China must push for the clean use of coal and step up integration of the dirty fuel with carbon capture, utilization and storage to achieve sustain ...
Thursday, 13 July 23
VIETNAM'S COAL EMISSIONS PRIMED FOR SURGE AFTER IMPORTS JUMP - REUTERS
Vietnam’s thermal power emissions are primed for a steep climb this summer after the country’s imports of thermal coal soared to their ...
Monday, 26 June 23
COAL PRODUCTION AND CONSUMPTION UP IN 2022 - EUROSTAT
In 2022, EU coal production and consumption continued to increase, reaching 349 million tonnes (+5% compared with the previous year) and 454 millio ...
Wednesday, 21 June 23
QATAR STRIKES SECOND BIG LNG SUPPLY DEAL WITH CHINA - REUTERS
Qatar on Tuesday secured its second large gas supply deal with a Chinese state-controlled company in less than a year, putting Asia clearly ahead i ...
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- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
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