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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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- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- The University of Queensland
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
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