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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, 08 January 23
ELEVATED COAL PRICE A DRAG ON MARGINS OF DOMESTIC BASE METAL PLAYERS: ICRA
The increased price of coal continue to be a drag on the margin of domestic base metal players with no immediate relief in sight, rating agency ICR ...
Monday, 02 January 23
CHINA’S COAL CONSUMPTION TO PEAK BY 2035: REPORT - REUTERS
China’s primary energy consumption is likely to peak at nearly 6.03 billion tonnes of standard coal between 2030 and 2035, refining giant Chi ...
Thursday, 29 December 22
INDIA'S COAL DEMAND LIKELY TO PEAK BETWEEN 2030-2035: MINISTER - ANI
The demand for coal in India will continue and is likely to peak between 2030-2035, Union Minister of Coal, Mines, and Parliamentary Affairs Pralha ...
Thursday, 29 December 22
RIO TINTO AND PARTNERS COULD RECEIVE AS MUCH AS $450M IN GOVERNMENT COMPENSATION FOR COAL PRICE CAP - THE GUARDIAN
Compensation payments for the Gladstone power plant remain the sticking point in the federal government’s coal price cap compensation negotia ...
Wednesday, 28 December 22
MARKET INSIGHT - INTERMODAL
The United Nations Conference on Trade and Development (UNCTAD) published a Global Trade Update on December 13th highlighting that global trade wou ...
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- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Australian Coal Association
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- MS Steel International - UAE
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
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