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Monday, 20 July 20
OIL PRICE OF $40-43 PER BARREL MORE OR LESS BALANCED - NOVAK | TASS
.png) The Russian Ministry of Energy considers the current oil price of $40-43 per barrel more or less balanced and does not expect price changes after the weakening of the OPEC+ production restrictions, Energy Minister Alexander Novak told reporters.
“No, we do not expect it, because the market is already conscious of it,” he said, answering a question about whether a change in oil prices is expected in connection with the transition of OPEC+ to some growth in production.
Speaking about the price expectations, Novak said that “now [the oil price] has been holding for a month at the level of $40-43, the price is more or less balanced.”
Extra oil supplies
Oil companies will independently make decisions on the supply of additional oil produced in connection with the growth of production under OPEC+, but it is important to ensure the Russian market first, Russian Energy Minister Alexander Novak told reporters.
“Of course, companies make decisions regarding the execution of their contracts, agreements, but it is important for us to provide for the domestic market, it usually grows in summer. We are increasing it by about 400,000 barrels [per day],” Novak said, answering a question about how much oil can go to the domestic market and how much to export, after Russia begins to increase production as part of the weakening of OPEC+ quotas.
Earlier, Novak said that Russian oil companies, as was previously assumed under the OPEC+ deal, would be able to increase production by 400,000 barrels per day in August 2020 in proportion to their production level.
The OPEC+ agreement entered into force on May 1, it assumes a reduction in oil production by the alliance countries by 9.7 mln bpd during May-July. Russia and Saudi Arabia, according to the agreements, will reduce oil production by equal shares – 2.5 mln bpd from the base level of 11 mln bpd. The agreements will be in effect for two years, but from August to December 2020, 7.7 mln bpd will be cut within the framework of the deal, and from January 2021 to the end of April 2022 – 5.8 mln bpd. The deal’s parameters may be revised in December 2021.
In June, Russia completed the OPEC+ deal to reduce oil production by 99%, reducing oil and condensate production by 16.6% to 38.16 mln tonnes. In August, a smooth transition to production recovery will begin, as stipulated in the agreement. At the same time, companies will increase their volumes in proportion to the level of their production.
Source: TASS
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Sunday, 30 August 20
PANAMAX - THIS WEEK THE DEMAND HAS PICKED UP, BUT THE TONNAGE LIST IS INCREASING DAY BY DAY - FEARNLEYS
Cape Size
More or less flat from previous week, with cape rates moving from US$ 19,500 to 18,900 on average. West Australia however being more ...
Saturday, 29 August 20
COAL INDIA'S FUEL SUPPLY TO POWER SECTOR DROPS ABOUT 20% IN APR-JUL: PTI
State-owned Coal India”s fuel supply to the power sector registered a decline of 19.5 per cent to 126.30 million tonnes (MT) in the April-Jul ...
Saturday, 29 August 20
SOUTH KOREAN BROKERAGE FIRM KOREA INVESTMENT & SECURITIES TO STOP ALL COAL BUSINESS - KOREA HERALD
South Korean brokerage firm Korea Investment & Securities has decided to stop its investments in coal, in line with the Moon Jae-in administrat ...
Thursday, 27 August 20
KOREAN GENCOS INVITED BIDS FOR TOTAL 985,000 TONS OF BITUMINOUS COAL FOR NOVEMBER 2020 LOADING
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 985,000 ...
Thursday, 27 August 20
SOUTHEAST ASIAN NATIONS SET REGION-WIDE RENEWABLE ENERGY GOAL OF 23 PERCENT BY 2025 - ASEAN POST
The Association of Southeast Asian Nations (ASEAN) has set an ambitious target of securing 23 percent of its primary energy from renewable so ...
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- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- The Treasury - Australian Government
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Economic Council, Georgia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
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