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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, 10 March 20
CHINA'S COAL-RICH PROVINCE ENSURES ENERGY SUPPLY AMID EPIDEMIC - XINHUA
China’s coal-rich province of Shanxi has seen more than 500 coal mines resume production in February, which ensured energy supply amid the ou ...
Monday, 09 March 20
KOREA EAST-WEST POWER INVITED BIDS FOR 150,000 MT OF MIN 4,400 - MAX 5,499 NAR COAL
COALspot.com: KOREA EAST-WEST POWER CO. LTD. of South Korea has issued an international tender for total 150,000 MT of LCV coal for May – Jun ...
Sunday, 08 March 20
SUPRAMAX: A 55,000DWT VESSEL FIXING DELIVERY FROM EAST KALIMANTAN FOR A TRIP TO VIETNAM AT $9,100 - BALTIC BRIEFING
SUPRAMAX/ULTRAMAX - A 56,000DWT VESSEL FIXED DELIVERY SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY EAST COAST INDIA, IN THE $6,000S
SUPRAMAX/U ...
Friday, 06 March 20
CHINA RESUMES 83.4 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 83.4 percent of its coal production capacity amid the fight against the novel coronavirus outbreak, the National Energy Administr ...
Friday, 06 March 20
COLOMBIAN COAL OUTPUT FELL 2% IN 2019 - REUTERS
Coal production in Colombia, the fifth-largest coal exporter in the world, fell 2% to 82.2 million tonnes in 2019 after output at one of the princi ...
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- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Parliament of New Zealand
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Australian Coal Association
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Thai Mozambique Logistica
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