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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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- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- The University of Queensland
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
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