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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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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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Showing 11 to 15 news of total 6871 |
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- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
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