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Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and the hike could be effected “very soon” as discussions are underway with stakeholders.
Agrawal also said he is confident the mining behemoth would achieve its production target of 1 billion tonnes by 2025-26 (FY26).
“There is a strong case for increasing coal prices, as that has not happened in the past five-odd years. This year, the wage negotiation has taken place as well. This will have an impact on CIL’s financial condition, especially for a few subsidiaries like Eastern Coalfields, Western Coalfields, and Bharat Coking Coal where the cost of manpower is very high. There will be a lot of problems if prices are not hiked,” Agrawal said at the Indian Coal Markets Conference here organised by mjunction.
The last price hike by the state-owned miner was in January 2018 — it was a little over 10 per cent.
“It is such a critical thing for the economic development of the country that it cannot be increased unilaterally,” he, however, added.
Asked when a final decision was likely, B Veera Reddy, director (technical) and director (finance)-additional charge, CIL, said, “There are a lot of stakeholders and the power ministry… we need to reach a consensus. We are in discussions with the Ministry of Coal.”
Even as it weighs in on the possibility of a price hike, CIL is stepping up production.
This year, it is on course to achieve 700 million tonnes (mt).
The target for next year is being kept at 780 mt. The additional 80 mt for next year is a “stiff target”, but CIL is committed to meeting the requirements of the nation. By FY26, it will reach the 1-billion tonne production target.
But it will hinge on factors like the need of the country and the growth of the private sector, said Agrawal.
“If not 1 billion (tonne), I am hopeful that the requirement would be in that range because our coal is one of the cheapest in the world,” he added.
Captive/commercial coal mine
The country is eyeing increased production from mines auctioned for captive and commercial use. Joining the conference virtually, Coal Secretary Amrit Lal Meena said this year, the share of captive/commercial would be 15 per cent of total coal production of the country.
Last year, production was 89 mt. This year, it is likely to be 112 mt. “In the next two to three years, we are hopeful that commercial and captive mines will increase production,” said Meena.
The target for 2023-24 from captive/commercial is 161 mt.
He said the ministry is working on a strategy to enhance the production of coal, so that not just the power sector but all other sectors of the economy have adequate coal and possibly think about exports.
Source: Business Standard
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Sunday, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
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- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- The University of Queensland
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
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