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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, 03 March 20
COAL'S SHARE OF CHINA ENERGY MIX FALLS IN 2019 BUT CONSUMPTION STILL RISING - REUTERS
Coal accounted for 57.7% of China’s primary energy consumption in 2019, the National Bureau of Statistics said on Friday, down 1.5 percentage ...
Monday, 02 March 20
SHIPOWNERS AND OPERATORS COULD FACE DETENTION OF SHIPS FROM 1ST MARCH UNDER IMO RULE - ICS
Port state control authorities will begin to enforce the IMO’s Sulphur 2020 from 1st March, making it an offense for ships to carry fuel that ...
Saturday, 29 February 20
SUPRAMAX SENTIMENT WAS UP IN A FEW KEY AREAS OVER THE LAST WEEK - BALTIC BRIEFING
Capesize
The Capesize market woes related to Coronavirus have now spread through the wider global markets like wildfire. The wider supply and d ...
Thursday, 27 February 20
FOREIGN COMPANIES LIKELY TO SKIP COMMERCIAL COAL BLOCK AUCTIONS - ECONOMIC TIMES
The Centre is in the process of inviting global players for commercial mining, following 100% foreign direct investment in the sector. However, giv ...
Wednesday, 26 February 20
SHIPPING MARKET INSIGHT - INTERMODAL
Coming from one of its busiest periods historically, with a list of scrubber and BWMS retrofits on a waiting list, the ship repair sector is witnes ...
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Showing 1101 to 1105 news of total 6871 |
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- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Australian Coal Association
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Eastern Coal Council - USA
- VISA Power Limited - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
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