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.
|
|
Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
...
|
|
|
Showing 71 to 75 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- The University of Queensland
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
|
| |
| |
|
