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