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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, 05 February 20
CORONAVIRUS AND THE SHIPPING INDUSTRY - WATSON, FARLEY & WILLIAMS
The continued spread of Coronavirus and governmental measures to minimise the impact is likely to affect the shipping industry and supply chain.
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Wednesday, 05 February 20
INDONESIA'S COAL PRICE REFERENCE UP 1.46% IN FEBRUARY
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Wednesday, 05 February 20
MARKET INSIGHT - INTERMODAL
The oil and gas industry benefitted from a strong and solid ground in the previous year. We witnessed a slow but steady increase in bunker’s ...
Wednesday, 05 February 20
RUSSIA EXPORTED 28.6 MLN TONNES OF LNG IN 2019 - REFINITIV
A lot of attention has been paid recently on the surge in LNG exports from the United States. However, another country which is seeing truly expone ...
Tuesday, 04 February 20
CAPE: THE AVERAGE EARNINGS PER DAY FELL BENEATH THE USD 4,000, A LEVEL CONSIDERABLY BELOW EVEN THE MOST CONSERVATIVE OPEX LEVELS - ALLIED
The recent slump in the dry bulk freight market may well have been expected to some degree, but despite this the shock was still overwhelming when ...
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- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
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