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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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Monday, 06 December 21
CHINA SETS 2022 ANNUAL THERMAL COAL PRICES AT 700 YUAN/T - MEDIA: REUTERS
China’s top economic planner has proposed to set annual thermal coal prices for 2022 at between 550 yuan and 850 yuan ($86-$133) per tonne, a ...
Thursday, 02 December 21
BUMI RECORDED US$ 666.18 MILLION AS REVENUE IN THE 3RD QUARTER, UP 13.31% YOY
PT Bumi Resources Tbk and its subsidiaries have recorded a surge in revenue in the third quarter of 2021. BUMI has recorded US$ 666.18 million as r ...
Thursday, 02 December 21
CHINA'S COAL CRUNCH IS OVER, BUT PRICES ARE STILL TOO HIGH - REUTERS
China’s coal crisis has largely been resolved with gains in both production and stockpiles sufficient to ensure power supplies over winter.
...
Wednesday, 01 December 21
2022 OUTLOOK: INDONESIAN COAL MINING - FITCH RATINGS
Fitch Ratings has a neutral outlook on the Indonesian coal sector for 2022.
Earnings generation should slow down as selling pr ...
Wednesday, 01 December 21
SUPPLY OF COAL TO POWER PLANTS IN NOV MORE THAN CONSUMPTION: JOSHI - PTI
The supply of coal to power plants in November is more than the consumption, resulting in rise in stock of dry fuel at power plants, and this trend ...
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- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
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