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Monday, 09 March 20
OPEC+ 'NO DEAL' A BLOW TO THE MARKET - WOOD MACKENZIE
 Speaking after today’s OPEC+ meeting broke up, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie, said: “Today’s outcome is a psychological blow for the market, as the steep plunge in oil prices shows.
“And the market is now facing the spectre of unrestrained production once the current OPEC+ agreement expires in March.
“However, we do not think Saudi Arabia will push hard to lift their output in the northern hemisphere spring.
“Given weak demand and the likelihood this weakness will persist into the second quarter, it will be hard for any producer to increase their output sharply once the original production deal expires at the end of this month.”
Demand risks
She added: “One factor to bear in mind is that the plunge in demand we saw in Q1 was created by circumstances in China. The country’s coronavirus (Covid-19) containment measures have been far more stringent than those imposed anywhere else, and are not likely to be copied elsewhere.
“The lack of a production deal carries risk. This would become apparent if global economic growth weakens and oil demand continues to contract more sharply than expected thanks to the double whammy of coronavirus containment measures and falling GDP.”
Hittle said: “Our current projection sees global liquids demand fall by 2.7 million b/d year-on-year in the first quarter of 2020, the first year-on-year decline on a quarterly basis since Q2 2009.
“It is the most severe decline since Q4 2008, the height of the 2008-2009 global economic crisis, which saw demand tumble by 2.8 million b/d year-on-year.”
Hittle said: “If the impact the coronavirus has had on global oil demand is sustained, then by the second half of the year we’d expect to see weaker GDP. This will have a far greater impact on oil demand than just temporary reductions in jet fuel and gasoline demand.
“A longer, sustained outbreak of coronavirus threatens to hit oil demand with a double whammy: already weak demand will soften further because of containment measures, and this will weaken GDP.”
What next?
What does this mean for OPEC and OPEC+? It would mean that the group would likely need to monitor economic indicators closely. It may even mean that they could be forced to call an emergency meeting during the second quarter.
She added: “A sustained bout of low oil prices will further reduce cash flow and investment into the US oil patch, causing further hits to Lower 48 production growth later this year. It takes at least six to nine months for reductions in spend to lead to lower oil production in the US Lower 48.
“In that time, their access to capital may be limited and their free cash flow badly hit.
“The only silver lining in a very dark cloud is for refining – the sector will be hit hard by weak demand, but it is at least saved from tightening crude differentials associated with a major cut in OPEC supplies.”
Source: Wood Mackenzie
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Tuesday, 12 May 20
A GLOBAL ECONOMIC RESTART HAS SLOWLY BEGUN AS COUNTRIES AROUND THE WORLD GRADUALLY - ALLIED
A global economic restart has slowly begun as countries around the world gradually set their return back to “normality”. Yet by all mea ...
Tuesday, 12 May 20
CAN INDONESIA'S COAL INDUSTRY SURVIVE COVID-19? : IEEFA
Pandemic Lockdown and Slumping Prices Put Extreme Pressure on Coal Miners
Executive Summary
While attention has been focused on th ...
Tuesday, 12 May 20
INDIA'S COAL PRODUCTION TO CLOCK RECORD 700 MILLION TONNES IN FY21: COAL SECRETARY - PTI
Coal Secretary Anil Jain said FY20 coal production was lower than the target of 660 million tonnes because of flooding of a key coal mine.
&nbs ...
Monday, 11 May 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Monday, 11 May 20
CORONAVIRUS PUTS MORE THAN A THIRD OF SEABORNE COAL SUPPLY AT RISK - WOOD MACKENZIE
The full impact of the coronavirus outbreak on the global economy is yet unclear. However, the demand destruction is already becoming evident, with ...
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- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Australian Coal Association
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Minerals Council of Australia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
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