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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, 31 July 20
BOTSWANA PLANS MORE COAL-FIRED POWER AS AFRICAN SOLAR ACCELERATES - IEEFA
An African economic leader like Botswana should embrace solar to reduce subsidies and tariff hikes
As Sub-Saharan solar ambition has ...
Wednesday, 29 July 20
2019 U.S. COAL PRODUCTION FALLS TO ITS LOWEST LEVEL SINCE 1978 - EIA
In 2019, U.S. coal production totaled 706 million short tons (MMst), a 7% decrease from the 756 MMst mined in 2018. Last year’s production wa ...
Wednesday, 29 July 20
MARKET INSIGHT - INTERMODAL
The dry bulk sector is beginning to recover from reduced SnP activity recorded in the first quarter of 2020. The table below illustrates that appro ...
Tuesday, 28 July 20
DEUTSCHE BANK TO END GLOBAL BUSINESS ACTIVITIES IN COAL MINING BY 2025 - REUTERS
Deutsche Bank, in a revamp of its policies for fossil fuels, said on Monday that it would end business activities worldwide related to coal mining ...
Monday, 27 July 20
IEEFA ENERGY FINANCE CONFERENCE 2020: COAL, LNG, PETROCHEMICAL SECTORS FACE POOR OUTLOOK AND UPHILL BATTLE FOR INVESTORS
Fossil fuel industries were becoming less financially attractive even before the global coronavirus pandemic
Three major fossil fuel ...
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- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- The University of Queensland
- CNBM International Corporation - China
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
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