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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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Wednesday, 05 August 20
SLUMP IN OIL REVENUE CHALLENGES MIDDLE EAST OIL EXPORTERS - INTERMODAL
The Covid-19 pandemic has had far-reaching consequences on the global capital markets. Despite the US government’s efforts for a quick and de ...
Tuesday, 04 August 20
KOEN INVITED BIDS FOR TOTAL 900K MT OF MIN 5600 NCV COAL FOR 3 YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 260,000 to 300,000 Tons (MT) min. ...
Tuesday, 04 August 20
THE WORLD’S FLEET OF COAL-FIRED POWER STATIONS HAS GOT SMALLER FOR THE FIRST TIME ON RECORD, WITH MORE CAPACITY RETIRED IN THE FIRST HALF OF 2020 THAN THE AMOUNT OPENED - IEA
This is according to the latest Global Coal Plant Tracker (GCPT) results by Global Energy Monitor (GEM), which we completed last month and report f ...
Monday, 03 August 20
U.S. COAL CONSUMPTION, WHICH HAS DECLINED SINCE ITS 2007 PEAK, FELL TO ITS LOWEST POINT IN APRIL 2020 - EIA
According to the U.S. Energy Information Administration’s (EIA) most recent Monthly Energy Review, the United States consumed 6.5 quadrillion ...
Monday, 03 August 20
LOW OIL PRICE AND CORONA VIRUS HIT SUB-SAHARAN AFRICA OIL PRODUCERS - FITCH RATINGS
The collapse in oil prices and the coronavirus shock is worsening the fiscal and external balances of sub-Saharan African oil producers, Fitch Rati ...
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- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
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- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
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- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
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- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
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- Global Coal Blending Company Limited - Australia
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- Economic Council, Georgia
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- Eastern Coal Council - USA
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- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- The University of Queensland
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- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
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- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
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- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
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- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- PTC India Limited - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
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- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- CNBM International Corporation - China
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- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Interocean Group of Companies - India
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- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
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