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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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Friday, 07 August 20
PEABODY'S $1.42 BILLION WRITE-DOWN CONCEDES COAL MINES HAVE LITTLE VALUE AND DIM FUTURE - IEEFA
Trouble at biggest mine in Powder River Basin speaks volumes about state of industry
Peabody Energy, the world’s largest priva ...
Thursday, 06 August 20
SUPRAMAX MARKET CONTINUED SIDEWAYS TREND, AND LITTLE INSPIRING NEWS APPEAR - FEARNLEYS
Capesize
There is presently a small correction in rates, but overall levels are up from previous week mainly due to increased demand in the Eas ...
Thursday, 06 August 20
KOREA SOUTH-EAST POWER INVITING BIDS FOR MIN 3,600-MAX 3,800 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) inviting bids for 80,000 Tons (MT) Min 3,600~Max 3,800 kcal/kg NCV coal f ...
Wednesday, 05 August 20
NO NEW MINING LICENSES - A REMINDER TO GOVERNORS IN INDONESIA - SSEK
Indonesia’s acting Director General of Mining and Coal (“DGMC”) has issued a letter to the country’s provincial Governors t ...
Wednesday, 05 August 20
AUGUST 2020 HBA HITTING ITS LOWEST LEVELS IN HISTORY
COALspot.com: The Indonesia Coal Price Reference for the month of August plunged 30.73% YoY, hitting its lowest levels in history and highlighting ...
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- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
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