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Friday, 16 October 15
INDONESIA REJOINING OPEC DESPITE BEING A NET IMPORTER OF PETROLEUM - EIA
.jpg) The Organization of the Petroleum Exporting Countries (OPEC) notified Indonesia that it plans to accept the country's request to reactivate its membership at the next OPEC meeting in December.
According to EIA, once it rejoins, Indonesia will regain its status as the only Asian member of OPEC and the only member that is a net importer of petroleum and other liquids.
OPEC, founded in 1960, currently has 12 members, but membership has always been fluid—Ecuador suspended its membership in 1992 and rejoined in 2007; Gabon joined in 1975 and terminated its membership in 1995.
Indonesia originally joined OPEC in 1962 but suspended its membership at the beginning of 2009. OPEC does allow for associate membership, but currently all 12 members are full members.
EIA further says, Indonesia's decision to suspend its OPEC membership was prompted by growing internal demand for energy, declining crude oil and condensate production in mature fields, and limited investment to increase production capacity. Indonesia had become a net importer of petroleum and other liquids by 2004 after domestic demand exceeded production, as Indonesia's production of petroleum and other liquids has been on a general decline since the mid-1990s. Indonesia produced about 790,000 barrels per day (b/d) of crude oil and condensates in 2014, the third-lowest level among OPEC countries.
According to OPEC's statute, the organization allows as a member any country that is a substantial net crude oil exporter, has similar interests to the organization, and is accepted by three-fourths of the full members. Although Indonesia is a net oil importer, the country continues to export crude oil and condensates. Because Indonesia is an archipelago, geographic distances between its domestic oil production and demand centers encourage both imports and exports. Despite its growing oil demand, Indonesia's oil and natural gas sectors continue to be an important part of the country's economy. Indonesia imports oil products, particularly gasoline, as a result of insufficient refining capacity to meet the growing demand for oil products.
Indonesia said that rejoining OPEC will strengthen its cooperation with oil-producing countries, provide greater access to crude oil supplies, and allow the country to be a link between energy producers and consumers. Indonesia currently buys crude oil and petroleum products through third parties or traders and wants direct access to long-term crude oil supply contracts through negotiations made between the national oil companies of OPEC members.
Indonesia anticipates more crude oil imports will be needed to meet domestic demand from refining capacity additions. Indonesia is planning a number of upgrades and expansions to existing refineries slated to become operational within the next decade. Indonesia has also proposed to build four new refineries, each having a capacity of 300,000 b/d. Because Indonesia struggles with the level of investment needed to offset oil and natural gas production declines and a lack of adequate infrastructure, it hopes to attract investment in both its upstream and downstream sectors from OPEC members. Indonesia is currently in discussions with several OPEC countries about crude oil supply deals and investments in refinery projects
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Sunday, 18 October 15
THE BDI AND OTHER INDICES CLOSED OFF ON NEGATIVE NOTE THIS FRIDAY
COALspot.com: The BDI closed off on negative note this Friday compared to previous Friday's closing.
The BDI closed this Friday (16 Octobe ...
Friday, 16 October 15
MAJOR REVISION OF NYPE TIME CHAPTER PARTY - BIMCO
Major revision of NYPE time charter party promises to be both balanced and comprehensive
BIMCO has today jointly issued the first revision of ...
Friday, 16 October 15
FOB INDONESIA COAL SWAP FOR Q4'15 DELIVERY FLAT WEEK OVER WEEK; DOWN 5.5 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and flat week over week.
The Q4 swap declined $ 2.23 (-5.51%) ...
Friday, 16 October 15
COAL PRODUCTION IN THE UNITED STATES DECREASED THIS WEEK; DOWN 11.3 PER CENT Y-Y, DOWN 3.5 PERCENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.1 million shor ...
Thursday, 15 October 15
INDONESIA COAL PRICE REFERENCE FALLS FOR SEVEN STRAIGHT MONTH IN OCTOBER
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price this month.
The ...
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- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Planning Commission, India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
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