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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, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
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