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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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Saturday, 15 February 20
AFRAMAX: A MORE POSITIVE ATTITUDE EXISTED IN THIS SECTOR WITH RATES IMPROVING ON ALL ROUTES - BALTIC BRIEFING
VLCC
The market in the Middle East was unmoved this week, with Chinese refiners continuing to slow imports, allied with the impact of the Coron ...
Saturday, 15 February 20
A 56,000DWT VESSEL WAS CONCLUDED BASIS DELIVERY SINGAPORE VIA INDONESIA REDELIVERY CHINA IN THE LOW $6,000S - BALTIC BRIEFING
Capesize
Riding the downward momentum of the previous week, the market was always going to be hard pressed to make any sort of revival. With mu ...
Saturday, 15 February 20
U.S. COAL PRODUCTION WILL TOTAL 595 MMST IN 2020, DOWN 14% FROM 2019 - EIA
EIA forecasts that U.S. coal production will total 595 million short tons (MMst) in 2020, down 95 MMst (14%) from 2019.
Lower ...
Friday, 14 February 20
WHY THE WORLD ECONOMY WILL BE FACING CHINA'S CORONAVIRUS FOR A LONG TIME - CNBC
Everywhere we look we see the headlines and commentators talking about the coronavirus and its impact on tourism, trade and investment between Chin ...
Friday, 14 February 20
KOWEPO INVITED BIDS FOR 1.275 MILLION TONS OF MIN. 5,600 NCV COAL
COALspot.com: Korea Western Power Co. Ltd (KOWEPO). as a representative of five Korean Gencos has issued an international tender for total 1,275,00 ...
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Showing 1131 to 1135 news of total 6871 |
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- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
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