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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, 17 January 23
CHINA'S SHANXI TARGETS 2023 COAL PRODUCTION OF NEARLY 1.37B TONS - XINHUA
China’s coal-rich province of Shanxi has set a coal production target of nearly 1.37 billion metric tons for 2023, according to a government ...
Tuesday, 17 January 23
MARKET INSIGHT - INTERMODAL
Rumor has it that the New Year has come, to set the pace in, for Russia to continue hostilities against Ukraine. Ten months on the go, into Russia& ...
Tuesday, 17 January 23
INDONESIA IS ACCOUNTING FOR 32.3% OF THE GLOBAL SEABORNE COAL MARKET IN 2022 - BENCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, Benchero ...
Tuesday, 10 January 23
INDONESIAN HBA IS SEEING A SPIKE IN JANUARY 2023 INSTEAD OF A SIGNIFICANT FALL IN DECEMBER 2022
COALspot.com: Indonesian Coal Price Reference up 8.43% in January 2023.
HBA is seeing a dramatic spike in January 2023 i ...
Sunday, 08 January 23
INDIAN COAL POWER PLANTS SHOULD BE COMPENSATED FOR 2022 FORCED GENERATION – REGULATOR : REUTERS
Indian power plants that rely on imported coal should be fully compensated when forced to supply electricity, the country’s power regulator s ...
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- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Australian Coal Association
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Parliament of New Zealand
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
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