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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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Monday, 20 July 20
COAL INDIA LAUNCHES SPECIAL CATEGORY OF E-AUCTION FOR COAL IMPORTERS - BUSINESS STANDARD
Coal India (CIL) on Friday launched a special category of e-auction for importers of coal. This is in line with the government’s declaration ...
Monday, 20 July 20
SUPRAMAX: A 63,000 OPEN NORTH CHINA FIXING AN AUSTRALIAN ROUND IN THE LOW $10,000S - BALTIC BRIEFING
Capesize
The capesize market showed some resistance this week to recent losses as all routes saw a small uptick in value to end the week. With ...
Friday, 17 July 20
MISC MALAYSIA ENTERS INTO PURCHASE AGREEMENTS AND TIME CHARTER PARTIES FOR SIX VLECS
MISC Berhad (MISC) has entered into Memorandum of Agreements (MOAs) with six indirect wholly-owned subsidiaries of Zhejiang Satellite Petrochem ...
Wednesday, 15 July 20
HOW MEANINGFUL ARE SOME ESTIMATES FOR INDIA’S COAL CONSUMPTION DATA? - IEEFA
In recent years, BP's estimates for India have contained what appears to be a record of over-optimistic projections
BP’s a ...
Wednesday, 15 July 20
CHINA'S JUNE COAL IMPORTS FALL 6.7% Y/Y ON PORT CURBS - REUTERS
China’s coal imports dropped 6.7% in June from the same period last year, as stringent import restrictions at ports impeded purchases by trad ...
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- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- The University of Queensland
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Australian Coal Association
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
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