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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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Thursday, 07 May 20
CRUDE OIL TANKER EARNINGS DROP 68% IN NINE DAYS - BIMCO
Crude oil tanker earnings have come down sharply in recent weeks with Very Large Crude Carrier (VLCC) earnings from the Middle East Gulf to China d ...
Thursday, 07 May 20
UKRAINE PRODUCES 2.5 MLN TONNES OF COAL IN APRIL - UKRINFORM
Ukraine produced 2.5 million tonnes of coal in April 2020, which is 39% less than planned, according to the Coal Miners Union of Ukraine.
...
Thursday, 07 May 20
INDIA: GOVT TO DO AWAY WITH MANDATORY WASHING OF COAL FOR THERMAL POWER UNITS - BUSINESS STANDARD
The Centre is planning to do away with the mandatory requirement of washing of coal before it is transported to thermal power stations. The Ministr ...
Thursday, 07 May 20
CIL'S SUPPLY TO POWER SECTOR FALLS IN MARCH AMID SLUMP IN COAL DEMAND - PTI
The supply of coal to the power sector by state-owned CIL registered a decline of eight per cent to 42.30 million tonne in March in the wake of slu ...
Thursday, 07 May 20
COAL PRICE REFERENCE FALL SHARPLY IN MAY 2020 DUE TO CORONAVIRUS OUTBREAK
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Planning Commission, India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
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