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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
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Friday, 10 April 20
INDIA'S BULKS SUPPLY CHAIN TAKES A HIT DURING LOCKDOWN - WOOD MACKENZIE
India is under a three-week lockdown from 25 March to contain the spread of the coronavirus outbreak. Businesses are shut, and the supply chain is ...
Thursday, 09 April 20
SUSPENSION OF WRONGFUL TRADING IN LIGHT OF COVID 19 - WF&W
KNOWLEDGE TO ELEVATE
DIRECTORS’ PERSONAL LIABILITY FOR WRONGFUL TRADING – RELIEF DURING THE CORONAVIRUS CRISIS
As the UK&rsquo ...
Wednesday, 08 April 20
LESSONS LEARNED FROM SCRUBBER INSTALLATION AND OPERATION - ABS
KNOWLEDGE TO ELEVATE
At the beginning of this year, the IMO’s global sulfur cap on marine fuels entered into force and shipowners who ch ...
Wednesday, 08 April 20
MARKET INSIGHT - INTERMODAL
With lockdown measures around the globe tightening during the last weeks of Q1, there is finally a feeling that most countries are slowly but stead ...
Tuesday, 07 April 20
SHIPPING MARKET ANALYSIS - ALLIED
With the first quarter of 2020 now firmly written in the books, it is worth examining what we have witnessed so far in the tanker market. Undoubted ...
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Showing 1021 to 1025 news of total 6871 |
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- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- PTC India Limited - India
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
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