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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, 23 January 20
COAL-BASED ELECTRICITY GENERATION SURGES 95% IN 2019 - PROFIT PAKISTAN TODAY
Coal-based power generation jumped 94.5 percent to 2,030 Gigawatt hours (GWh) in the year to November 2019, taking its share in the country’s ...
Wednesday, 22 January 20
INDIA: COAL PRODUCTION FROM CAPTIVE MINES RAISES 24% OUTPUT IN APRIL TO DECEMBER - FINANCIAL EXPRESS
Coal production from captive mines in the first nine months of the ongoing financial year was up 24% year-on-year (y-o-y) at 40.93 million tonne (M ...
Wednesday, 22 January 20
SHIPPING MARKET INSIGHT - INTERMODAL
It seems that we are finally seeing whitish smoke as far as the trade feud between the US and China is concerned, while following this much anticip ...
Tuesday, 21 January 20
IRON ORE - 5 THINGS TO WATCH IN 2020 - WOOD MACKENZIE
Wood Mackenzie identifies five trends that will impact the iron ore industry.
Slower demand growth (especially in China) and a decen ...
Tuesday, 21 January 20
ASIA'S APPETITE FOR COAL GROWS, WITH CHINA THE KEY DECIDER - NIKKEI
Although renewable power generation is expected to rise significantly in Asia, India’s vast electricity needs will still underpin global dema ...
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- PTC India Limited - India
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- White Energy Company Limited
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
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