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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, 19 June 20
INDIA'S COAL CONSUMPTION GROWTH IN 2019 SLOWEST SINCE 2001: BP STATS REVIEW - HINDU BUSINESS LINE
Growth in global energy markets slowed in 2019 in line with weaker economic growth, according to the bp Statistical Review of World Energy 2020. Th ...
Friday, 19 June 20
KOWEPO TO IMPORT 1,050,000 MT OF MIN 5300 NCV COAL FOR THREE YEARS
COALspot.com: Korera Western Power Co., Ltd. (KOWEPO) has issued an International tender for Total 1,050k MT Min.5,300 kcal/kg NCV coal for t ...
Thursday, 18 June 20
INDIA: GOVT'S PLAN TO CUT COAL IMPORT GOES FOR A TOSS AS FY20 BREAKS LOGISTICS CHAIN; LOCAL OUTPUT STAGNANT - FINANCIAL EXPRESS
Weak logistics support and disrupted supply chain towards the end of the last financial year 2019-20 hit the government’s plan to cut coal im ...
Thursday, 18 June 20
INDIA: THERMAL PLANTS TO OPERATE BELOW 53% CAPACITY IN FY21 AS POWER DEMAND DIPS - BUSINESS STANDARD
The Plant Load Factor (PLF) of thermal power stations across the country is projected to dip below 53 per cent in this fiscal. Muted power demand f ...
Wednesday, 17 June 20
MARKET INSIGHT - INTERMODAL
After experiencing record earnings during the first half of the year, the focus of headlines concerning the tanker market has shifted from the deve ...
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- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Antam Resourcindo - Indonesia
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
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