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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, 07 April 20
IS CHINA EMBARKING ON A MAJOR EXPANSION OF COAL-FIRED POWER GENERATION? - WOOD MACKENZIE
As energy companies worldwide grapple with the economic impact of the coronavirus pandemic, long-term planning continues. Ahead of the release of t ...
Tuesday, 07 April 20
COAL INDIA'S DISPATCHES DROP, OUTPUT INCREASES - THE HINDU
India’s largest coal producer Coal India Ltd. (CIL) has seen a 10% fall in dispatches in March 2020 due to a sharp fall in demand from the po ...
Tuesday, 07 April 20
CORONAVIRUS AND LOCKDOWNS DRAG DOWN THE INDONESIAN COAL PRICE REFERENCE IN APRIL
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of the Indonesian ther ...
Monday, 06 April 20
A 52,000DWT SHIP FIXING DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY TAIWAN, AT $3,100 - BALTIC BRIEFING
Capesize
The Capesize market this past week looks to have come off life support and found some improved sentiment. The week began rather ordina ...
Monday, 06 April 20
INDIA'S 21-DAY LOCKDOWN - IMPACT ON COMMODITIES? - WOOD MACKENZIE
India is under a three-week lockdown from 25 March, to contain the spread of the coronavirus outbreak. Wood Mackenzie analysts discuss what this me ...
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Showing 1026 to 1030 news of total 6871 |
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- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- The University of Queensland
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
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