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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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Tuesday, 21 January 20
THERMAL COAL PRICES SET FOR RECOVERY THIS YEAR AS OVERSUPPLY TIGHTENS - REUTERS
Thermal coal prices are expected to recover this year after losing around a third of their value last year as demand from some south-east Asian cou ...
Monday, 20 January 20
INDIA TO STOP SUBSTITUTABLE COAL IMPORT; CAN GO FOR AUCTION OF 100 FULLY EXPLORED NEW BLOCKS: JOSHI - PTI
The Cabinet recently approved promulgation of Mineral Laws (Amendment) Ordinance 2020 to amend Mines and Minerals (Development and Regulation ) Act ...
Monday, 20 January 20
CHINA DECEMBER COAL OUTPUT UP 2.4 PERCENT ON YEAR - STATS BUREAU: REUTERS
China produced 331.74 million tonnes of coal in December, up 2.4 percent on the year, the National Bureau of Statistics said on Friday.
...
Monday, 20 January 20
CHINA IMPORTED 124.4 MLN TONNES OF COAL FROM INDONESIA IN 2019, UP 15.1 PERCENT YOY - BANCHERO COSTA
China's coal imports raced ahead in 2019, surprising many who had expected that in the months of 2019 to come the government would clamp down s ...
Saturday, 18 January 20
BIMCO: LOW-SULPHUR FUEL SALE JUMPS TO A 70% SHARE IN SINGAPORE, AS THE IMO 2020 SULPHUR CAP KICKS IN
The final quarter of 2019 marked a massive decline of HSFO sales, as the industry transitioned into compliance of the IMO 2020 Sulphur Cap (IMO2020 ...
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- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- White Energy Company Limited
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
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