We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 20 March 20
OIL PRICES COULD FALL BELOW ZERO: ANALYST - FOX BUSINESS
Plunging oil prices could be headed a lot lower – possibly below zero, according to one Wall Street analyst.
West Texas Intermediate crude oil, the U.S. benchmark, fell by more than 10 percent Wednesday to near $24 a barrel, a level last seen in April 2002.
“Oil prices can go negative,” wrote Paul Sankey, managing director at Mizuho Securities.
The COVID-19 pandemic has brought the U.S. and global economy to a standstill by prompting “shelter in place” orders, social distancing between people and the cancellation of non-essential travel. The sharp slowdown in economic activity has curtailed the need for oil.
If that weren’t enough, Saudi Arabia recently slashed oil prices and raised output after Russia refused to join OPEC in deepening production cuts.
Oil is a 100 million barrel-per-day market, but Sankey says it’s possible that the economic fallout from the pandemic could zap demand, creating a 20 million barrel-per-day surplus.
He says the “physical reality” of the market is that oil is pumped out of the ground and has to be consumed or stored. When the cost of storage goes high enough — or space runs out — companies might pay customers to take it.
For now, President Trump has ordered the Department of Energy to take advantage of low prices by stepping into the market and buying oil for the Strategic Petroleum Reserve.
The reserve can build at 2 million barrels per day, meaning that it has four months until it’s at capacity, Sankey said.
By then, he added, high-cost oil from the Bakken shale formation in the U.S. or bitumen from the Canadian oil sands, “prices negatively because it exceeds needs” and requires storage, Sankey wrote. “Negative prices are simply a higher cost of storage than market.”
Sankey isn’t the only one on Wall Street who is sounding the alarm about the coming flood of oil.
Excess supply from OPEC and Russia, coupled with crumbling demand “are leading to concerns about a surplus that could overwhelm global storage,” wrote Francisco Blanch, a commodity strategist at Bank of America.
He warns the demand destruction caused by COVID-19 and the price war between Saudi Arabia and Russia could cause inventories to swell by 900 million barrels in the second quarter alone. He estimates the world currently has about 1.5 billion barrels of available storage.
Blanch’s worst-case scenario isn’t as dire as Sankey’s.
“In a severe scenario, if the market struggles to find a home for surplus barrels, then oil prices might have to trade down into the teens,” he wrote.
Source: Fox Business
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
|
|
|
Showing 56 to 60 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- The University of Queensland
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- GMR Energy Limited - India
- Planning Commission, India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
|
| |
| |
|
