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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, 26 February 20
AS ALL OF THE GLOBAL COAL GIANTS EXIT SOUTH AFRICA, ESKOM TO DEPEND ON TWO MINERS FOR 70% OF ITS SUPPLY - BUSINESS INSIDER
While some of its politicians continue to imagine that coal has a future in South Africa, two key developments from the real world show that securi ...
Tuesday, 25 February 20
DELTA DUNIA MAKMUR REGISTERED A NET PROFIT OF US$20 MILLION FOR FY 2019
PT Delta Dunia Makmur, one of the largest coal mining company in Indonesia, has recorded an US$882 million revenue for FY 2019, 1% lower compared t ...
Tuesday, 25 February 20
SHIPPING UPDATE - ALLIED
The positive feeling and optimism for a fresh rally during the first few months of 2020 that prevailed in the tanker markets during the final quart ...
Monday, 24 February 20
COULD SOME VLSFO FUELS BE BANNED? - GIBSON
The run up to the implementation of the new IMO rules on marine fuels from1st January 2020 had owners and charterers analysing the vari ...
Monday, 24 February 20
CHINA SAYS MAJOR COAL FIRMS RESTORE 95% OF PRODUCTION CAPACITY - REUTERS
China’s coal companies controlled by the central government have resumed operations and are back at more than 95% of their capacity, an offic ...
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Showing 1106 to 1110 news of total 6871 |
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- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- The University of Queensland
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- MS Steel International - UAE
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
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