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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, 27 January 22
2022 - A YEAR OF REBALANCING FOR METALS AND MINING - WOOD MACKENZIE
If 2021 was the year of rebound for metals and mining (M&M) commodities, then 2022 is shaping as the year of rebalance, says Wood Mackenzie, a ...
Wednesday, 26 January 22
MARKET INSIGHT - INTERMODAL
While it is logical that most of the S&P reports of the first weeks of the year are linked to very limited activity as reflected in the weekly ...
Wednesday, 26 January 22
INDONESIA: DME PROJECT IS ECONOMICALLY VIABLE AS STUDY DEMONSTRATES
The government is encouraging downstream coal processing or increase in coal added value, for example by turning coal into Dimethyl Ether (DME) to ...
Wednesday, 26 January 22
COMMODITY PRICES COULD SOAR IF THE RUSSIA-UKRAINE CRISIS ESCALATES - ING
It appears that a number of commodity markets are starting to at least price in some geopolitical risk around the growing tension between Russia an ...
Wednesday, 26 January 22
INDONESIA'S COAL BAN SENDS PRICES SOARING, OTHER EXPORTERS FAIL TO STEP UP - REUTERS
Indonesia’s short-lived ban on exporting coal has sent ructions through the seaborne market for the fuel in Asia, with the fallout likely to ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Planning Commission, India
- Deloitte Consulting - India
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
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