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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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Thursday, 20 February 20
CHINA RESUMES OVER 70 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 70.2 percent of its coal production capacity with output recovering steadily amid the fight against the novel coronavirus epidemi ...
Thursday, 20 February 20
CHINA THERMAL COAL MARKET FACES 2-3 MONTH CORONAVIRUS SHORT SQUEEZE: NOBLE - REUTERS
China’s domestic thermal coal market faces a 2-3 month short squeeze as a rapidly spreading coronavirus outbreak curtails production more tha ...
Wednesday, 19 February 20
KOREA MIDLAND POWER INVITED BIDS FOR 1 MILLION TONS OF HCV AND LCV COAL FOR Q2- Q4 LOADING
COALspot.com: Korea Midland Power Co. Ltd, (KOMIPO). has issued an international tender for total 1 million MT of coal for April to December 2020 l ...
Wednesday, 19 February 20
GLENCORE WRITES OFF ALMOST $1 BILLION AT COLOMBIAN COAL MINES DUE TO FALLING EUROPEAN IMPORTS: BLOOMBERG
The economic case against European coal is proving too much for even Glencore Plc.
The world’s biggest coal shipper cut the va ...
Wednesday, 19 February 20
MINERS WELCOME INDONESIA'S NEW JOBS BILL THAT COULD SPUR COAL GROWTH - REUTERS
Miners have welcomed proposed changes to Indonesian mining rules under a new law aimed at boosting investment, though critics are concerned that th ...
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- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- VISA Power Limited - India
- Anglo American - United Kingdom
- Parliament of New Zealand
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- The University of Queensland
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
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