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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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Friday, 10 April 20
INDIA'S BULKS SUPPLY CHAIN TAKES A HIT DURING LOCKDOWN - WOOD MACKENZIE
India is under a three-week lockdown from 25 March to contain the spread of the coronavirus outbreak. Businesses are shut, and the supply chain is ...
Thursday, 09 April 20
SUSPENSION OF WRONGFUL TRADING IN LIGHT OF COVID 19 - WF&W
KNOWLEDGE TO ELEVATE
DIRECTORS’ PERSONAL LIABILITY FOR WRONGFUL TRADING – RELIEF DURING THE CORONAVIRUS CRISIS
As the UK&rsquo ...
Wednesday, 08 April 20
LESSONS LEARNED FROM SCRUBBER INSTALLATION AND OPERATION - ABS
KNOWLEDGE TO ELEVATE
At the beginning of this year, the IMO’s global sulfur cap on marine fuels entered into force and shipowners who ch ...
Wednesday, 08 April 20
MARKET INSIGHT - INTERMODAL
With lockdown measures around the globe tightening during the last weeks of Q1, there is finally a feeling that most countries are slowly but stead ...
Tuesday, 07 April 20
SHIPPING MARKET ANALYSIS - ALLIED
With the first quarter of 2020 now firmly written in the books, it is worth examining what we have witnessed so far in the tanker market. Undoubted ...
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Showing 1021 to 1025 news of total 6871 |
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- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
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