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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, 01 July 20
MARKET INSIGHT - INTERMODAL
It was beginning of 2020 – close to 6 months from now – when we first experienced the huge impact of the COVID 19 outbreak on Ship Repa ...
Monday, 29 June 20
INDONESIAN COAL AT THE MERCY OF THE DRAGON AND TIGER - GHEE PEH | IEEFA
Coal sector analysts have been busy in recent months mapping the negative impact of low coal prices from the COVID-19 pandemic on Indonesian coal c ...
Monday, 29 June 20
FALLING DEMAND IN CHINA AND INDIA SIGNAL TOUGH TIMES AHEAD FOR INDONESIAN EXPORTS - GHEE PEH | EEFA
Assessing the Impact on Indonesian Coal Companies
The bad news for Indonesia’s coal companies is that they are likely to have ...
Monday, 29 June 20
INDIA COAL IMPORT OUTLOOK: WEAK DEMAND, IMPORT SUBSTITUTION, EXPECT 20% YOY DECLINE - GHEE PEH | IEEFA
For India, the coal demand indicators have clearly turned negative.
According to Argus Media, since the government declared a ...
Monday, 29 June 20
CHINA COAL IMPORT OUTLOOK: MANY MOVING PARTS, FORECAST TO FALL 10% YOY - GHEE PEH | IEEFA
China’s coal demand declined in the first quarter of 2020. According to the China National Coal Association, the country consumed 870mt in th ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- PTC India Limited - India
- Bharathi Cement Corporation - India
- White Energy Company Limited
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
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