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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, 23 May 23
INDIA: COAL OUTPUT UP 8.9%, SUPPLY RISES 11.7% IN APRIL - FINANCIAL EXPRESS
India’s coal production jumped 8.85% to 73.14 million tonne (MT) in April 2023 and the total coal despatch during the month went up 11.66% to ...
Tuesday, 23 May 23
CHINA COAL OUTPUT UP 4.5 PCT IN APRIL - XINHUA
China’s raw coal output posted stable expansion in April, official data showed.
The country produced 380 million tonnes of raw ...
Saturday, 20 May 23
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
In 2022, non-OPEC supply is estimated to have increased by 1.9 mb/d y-o-y. Out of this, US liquids production increased by 1.2 mb/d, mainly on the ...
Saturday, 20 May 23
GLOBAL COAL TRADE HAS REALLY PICKED UP PACE IN RECENT MONTHS, NOW FULLY BACK TO PRE-COVID LEVELS - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In Jan-Apr 2023, total global seaborne coa ...
Saturday, 20 May 23
MARKET INSIGHT - INTERMODAL
India is one of the world's largest coal producers and one of the world's largest importers of coal. The country uses coal mainly for power ...
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Showing 101 to 105 news of total 6871 |
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- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
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