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Tuesday, 07 December 21
COAL WOULD REMAIN ENERGY LEADER FOR AT LEAST 15 YEARS - LIVEMINT
Coal India Ltd (CIL) has been in the eye of the storm after fuel stocks at coal-fuelled power plants depleted in October. Fuel stocks since are being replenished.
n an email interview, Pramod Agrawal, chairman of world’s largest coal miner, spoke about scaling down of production by power plants which were reliant on costly imported coal, leading to domestic coal-fuelled power plants to step in. Agrawal, an IAS officer of the Madhya Pradesh cadre, also spoke about a likely increase in prices of the fossil fuel and stated that coal would keep its leadership of the energy landscape for at least a decade-and-a-half despite the focus on clean energy.
What were the problems faced due to state generation companies (gencos), ramping down of generation by imported coal fuelled power projects and inadequate buildup of fuel stocks at power projects, specifically during the summer and monsoon?
Owing to high international coal prices, 14 imported coal-based power plants scaled down their generation to 28.24 billion units (BU) during April-October’21 compared to 44.96 BU in the same period a year earlier, which resulted in a generation fall of 37%. Domestic coal-based power plants had stepped in to meet the gap where CIL had supplied around 20 million tonnes of additional coal. Supply fluctuation during the monsoon is a normal seasonal trend which this year got amplified due to a sudden surge in power generation leading to unprecedented coal demand. In fact, our supplies to the power sector are at an all-time high so far. With improved supplies, 20 mt of coal stock has been built up at power plants so far, the bulk of it from CIL sources. We are targeting to boost the stocks further to adequate levels by the fiscal-end. Outstanding receivables are the only concern with state gencos.
What is the latest coal production and offtake data and trajectory for meeting annual production target of 670 mt for FY22?
As of November-end, our production was nearly 354 mt, logging 5.6% year-on-year growth. Realistically, we may close the fiscal with an output of 640 mt. On the off-take front, our supplies have taken a leap to 421 mt, which is an increase of 64 mt over last year same period, with a growth of 18%. If coal demand pans out favourably, we are aiming at 680 mt despatches by the fiscal year-end. We also plan to supply more than 540 mt of coal to the power sector which would be a record high.
What is the proposed action plan to meet growing demand for coal in the country, especially keeping in view the 1 billion tonne production target by FY24?
Scaling up coal production is imperative. Currently, coal demand is high and is likely to sustain in the future. Our plan to ramp up production includes close monitoring of 35 major projects which account for 70% of our entire production. To boost future production, we are pursuing MDO (mine developer and operator) mode and cleared 13 of 15 such greenfield projects having a combined capacity of 170 mtpa (million tonnes per annum). Global tenders have been floated for 10 projects. For the ongoing fiscal, nine coal mining projects having a total capacity of around 67 mtpa and incremental capacity of 37 mtpa have been green-flagged. This comes on the heels of highest-ever 36 coal mining projects cleared in FY21 which have a total capacity of approximately 333 mtpa. We are also in constant dialogue with state governments for land acquisition to expand our operations. All these efforts would push up our production.
Are we looking at a coal price hike soon? Any indication on how much it would be and other details.
It is likely to happen but to draw a timeline would not be possible. For the last four years, there has been no price increase but most of the input costs including diesel and explosives have increased. Despite this, our prices held steady. We are now reaching a level where to stay commercially viable, price increase is essential; when and how much would be a collective board decision. But the idea is we have to be adequately compensated and whatever the increase should take care of our Ebitda (earnings before interest, taxes, depreciation and amortization). While protecting our bottom line, we will also consider the impact on price of energy in the country because coal price increase has an influence on various commodities. We will take all our stakeholders on board.
Coal is under fire from environmentalists. What would be coal’s standing in the energy mix of the country in future?
Environmental concerns revolving around coal are understandable and justified. We are sensitive to environmental protection in our production and transportation and are reducing CO2 emissions and particulate matter to the extent possible. However, the journey of coal is not going to end anytime soon, and it will continue to retain its energy leadership for at least a decade and half to come. Coal’s percentage in the energy basket may reduce with renewables and cleaner sources gradually filling up more, but in absolute terms coal’s contribution will be higher. Forcing out coal in the absence of alternative energy sources to replace its role is not a viable option. It is certain that at some point of time in future coal has to step down from the high pedestal that it currently occupies in the country’s energy hierarchy. But the big question is when. Till such time, coal is here to stay.
Source: LiveMint
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Thursday, 30 June 22
INVESTMENT IN GLOBAL COAL SUPPLY CHAIN TO HIT $115 BN IN 2022, LED BY CHINA AND INDIA - BUSINESS LINE
At over $80 billion, China and India are anticipated to make up the bulk of global coal investment in 2022, says IEA.
The investment ...
Wednesday, 29 June 22
LNG MARKET REMAINS TIGHT - INTERMODAL
LNG market remains tight currently, mainly driven by the US LNG outage from the recent fire in Freeport LNG terminal together with the recent fall ...
Wednesday, 29 June 22
CHINA'S NEW PLAN FOR RENEWABLE ENERGY DEVELOPMENT FOCUSES ON CONSUMPTION - FITCH RATINGS
China’s focus on consumption penetration for renewable energy development in its recently released 14th five-year plan – 2021 to 2025 & ...
Wednesday, 29 June 22
APAC CORPORATE SECTOR OUTLOOKS SHIFT AMID GLOBAL SHOCKS - FITCH RATINGS’
Fitch Ratings’ mid-2022 corporate sector outlook review revealed that the Asia-Pacific (APAC) region saw the largest number of sector outlook ...
Thursday, 16 June 22
MARKET INSIGHT - INTERMODAL
Picking up from my last insight in March, on the early days of the invasion, it's worth pointing out the way that the fast-paced working enviro ...
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- Neyveli Lignite Corporation Ltd, - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
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- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
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- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Georgia Ports Authority, United States
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- Interocean Group of Companies - India
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- Xindia Steels Limited - India
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- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
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- Heidelberg Cement - Germany
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- Anglo American - United Kingdom
- PTC India Limited - India
- The University of Queensland
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- White Energy Company Limited
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- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
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- Coal and Oil Company - UAE
- Planning Commission, India
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- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
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- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
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