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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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Tuesday, 14 December 21
COAL LOCK-IN IN SOUTHEAST ASIA PRESENTS A CHALLENGE FOR THE ASIAN DEVELOPMENT BANK'S COAL RETIREMENT PLAN - IEEFA
In August, the Asian Development Bank (ADB) announced an ambitious plan to buy high emissions coal-fired power plants in Southeast Asia and retire ...
Saturday, 11 December 21
BUNKER BUYERS LOSE UP TO $5/MT FOR NOT COVERING ENOUGH SUPPLIERS - INTEGR8 FUELS
With the Brent price recently touching the $80 mark and before the Omicron variant concerns pushed it lower, bunker prices reached levels not seen ...
Tuesday, 07 December 21
SUPERCYCLE DEMAND: ARE WE THERE YET? - WOOD MACKENZIE
Taking young children on a long journey is fraught with challenges, not least the inevitable question a few minutes after leaving: are we there yet ...
Tuesday, 07 December 21
GLOBAL SHIPPING OUTLOOK TURNS STABLE FROM POSITIVE ON THE BACK OF PEAKING EARNINGS DURING 2021 - MOODY'S
The outlook for the global shipping industry is changed to stable from positive for the next 12 to 18 months due to demand slightly outstripping su ...
Tuesday, 07 December 21
COAL FIRMS SEE SHARE PRICES SURGE MONDAY, AFTER GOVERNMENT READJUSTS CONTRACT PRICES - GLOBAL TIMES
Share prices of China’s coal enterprises jumped on Monday on the A-share market following a nationwide adjustment to annual thermal coal pric ...
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- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Minerals Council of Australia
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Parliament of New Zealand
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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