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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, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
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