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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, 02 December 22
INDONESIAN COAL PRICE REFERENCE PLUNGE TOWARD US$ 281.48 A TON AS DEMAND DROPS WORLDWIDE
COALspot.com: The cost of coal is falling so fast that it is beginning to put real money back in the pockets of end-users.
Indonesia ...
Wednesday, 30 November 22
INDONESIA’S BUMI RESOURCES TARGETS 2023 COAL OUTPUT OF 80 MLN TONNES - REUTERS
Indonesian coal miner PT Bumi Resources Tbk BUMI.JKis eyeing a 10% increase in output to 80 million tonnes next year amid expectations for more fav ...
Wednesday, 30 November 22
TANKERS: LONGER HAULS TO SUPPORT CONTINUED STRENGTH - BIMCO
Highlights
A rebound in the dirty tanker trade has led the Baltic Exchange Dirty Index (BDTI) to increase by 64% since our last report from mid ...
Wednesday, 30 November 22
MARKET INSIGHT - INTERMODAL
Shipping, although a conservative and innovation adverse industry, is currently in a transition period of digital transformation. According to a su ...
Tuesday, 29 November 22
INDIA TO RECEIVE FIRST LNG CARGO FROM INDONESIA’S TANGGUH LNG - REUTERS
India will receive its first cargo from Indonesia’s Tangguh liquefied natural gas (LNG) plant at the Dahej terminal on Monday, according to a ...
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- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Parliament of New Zealand
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Australian Coal Association
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- The University of Queensland
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
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