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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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- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Indian Energy Exchange, India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
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