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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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- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Central Electricity Authority - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
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