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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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Wednesday, 04 March 20
CORONAVIRUS: A WILDCARD FOR BULKS DEMAND - WOOD MACKENZIE
The coronavirus is casting a shadow across commodity markets. It has undermined China’s economic sentiment, putting the country’s growt ...
Wednesday, 04 March 20
THERMAL COAL TO 'PHASE OUT', STRONG DEMAND FOR COKING COAL: PLATO - SYDNEY MORNING HERALD
Plato Investments managing director Don Hamson says Australian iron ore producers are set to benefit in the fallout from coronavirus as China will ...
Wednesday, 04 March 20
CHINA PROVINCE TO CLOSE 10 MLN TONNES OF COAL CAPACITY IN 2020 - XINHUA
Southwest China’s Guizhou Province plans to phase out 10 million tonnes of outdated coal production capacity by closing 80 coal mines in 2020 ...
Wednesday, 04 March 20
UKRAINE PRODUCED OVER 2.55 MLN TONNES OF COAL IN FEBRUARY - UKRINFORM
In February 2020, Ukraine produced over 2.55 million tonnes of coal, which is 0.2% less than planned.
The Coal Miners Union of Ukrai ...
Tuesday, 03 March 20
IMPORTANCE OF MASTER'S CARGO CHECKS - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
Adecision in recent High Court case has made it clear that there is no implied indemnity from a charterer to their counte ...
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Showing 1096 to 1100 news of total 6871 |
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- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Central Electricity Authority - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
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