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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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Tuesday, 25 August 20
INDIA'S IMPORTS FALL AS LOCKDOWNS IMPACT THE POWER AND INDUSTRIAL SECTORS - REPORT
India is the world’s second largest thermal coal consumer and importer, importing an estimated 211 million tonnes of thermal coal in 2019.&nb ...
Monday, 24 August 20
A COMBINATION OF DEVELOPMENTS DROVE THE FALLOFF COAL PRICES - CHIEF ECONOMIST’ OFFICE, AUSTRALIA
China, rising domestic production combined with subdued power demand;
India, a lockdown coupled with government directives that fav ...
Monday, 24 August 20
AUSTRALIA'S THERMAL COAL EXPORTS ARE FORECAST TO DROP FROM AN ESTIMATED $20 BILLION IN 2019-20 TO $16 BILLION IN 2020-21: REPORT
Thermal coal spot prices have fallen sharply as the impact of COVID-19 drives a contraction in seaborne trade for only the second time this century ...
Saturday, 22 August 20
REPORT SEES INDIA’S RELIANCE ON THERMAL POWER DROPPING TO 50% IN 2021, 43% IN 2026 - ET ENERGY | IEEFA
India’s dependence on thermal power will reduce to 50 per cent by 2021-22 and 43 per cent by 2026-27 on the back of renewable energy (RE) cap ...
Friday, 21 August 20
323 MILLION ELECTRIC VEHICLES WILL BE ON THE ROADS BY 2040 - WOOD MACKENZIE
Electric vehicle (EV) sales are expected to reach 45 million units per year by 2040, with a total global EV stock of 323 million, according to new ...
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- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
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