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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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Sunday, 14 June 20
INDONESIAN COAL WAS STILL IN DEMAND; A 52,000-DWT SUPRAMAX FIXING DELIVERY CJK FOR A ROUND VOYAGE VIA INDONESIA AT $6,250 - BALTIC BRIEFING
Capesize
The Capesize market made new highs for the year this week after strong iron ore demand to the far east continued to develop in the mar ...
Friday, 12 June 20
CHINA CURBS COAL IMPORTS AFTER 5 MONTHS OF RECORD INFLOWS - SOURCES: REUTERS
China has stepped up customs checks for coal imports, leading to lengthy processing delays at ports, four sources familiar with the matter said, as ...
Friday, 12 June 20
COAL INDIA LIMITED SET FOR MARKETING DRIVE TO CREATE DEMAND - FINANCIAL EXPRESS
State-run miner Coal India (CIL), which is primarily focused on supplying coal to the power sector, is now reorienting its marketing to create dema ...
Friday, 12 June 20
MOODY'S REVISES BRENT OIL PRICE OUTLOOK TO $35/BARREL IN 2020 - TASS
Low oil prices are likely to exert the highest pressure on Iraq, Oman and Kuwait due to the limited space for the fiscal policy pursuit and higher ...
Thursday, 11 June 20
JAN-MAY, INDONESIA SHIPPED 175.15 MILLION TONS OF COAL TO ITS OVERSEAS BUYERS
Indonesia's coal production for the first 5 months of this year have reached 228 million tons. January – May 2020, Indonesia shipped US$ ...
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- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
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