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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, 07 January 20
BHP EYES INDIA FOR COAL GROWTH AS CHINA DEMAND FLATLINES - SYDNEY MORNING HERALD
Australia’s largest miner, BHP, believes the long-term trajectory of the emerging economy of India and the acceleration of its steelmaking ou ...
Sunday, 05 January 20
BUNKER QUALITY CLAIMS IN 2020 - ISSUES TO CONSIDER - CLYDE&CO
KNOWLEDGE TO ELEVATE
In recent years the shipping industry has faced a significant number of bunker quality claims, most notably ari ...
Saturday, 04 January 20
SUPRAMAX: A 53,000DWT VESSEL FIXING DELIVERY INDONESIA TRIP TO CHINA AT $4,000 AND A 58,000DWT SHIP FIXING DELIVERY EAST KALIMANTAN TRIP TO THAILAND AT $5,500 - BALTIC BRIEFING
Capesize
The New Year started with an erosion on pre-Christmas rates as the higher low sulphur fuel costs due to IMO 2020 affected levels. From ...
Thursday, 02 January 20
DMO 2020 PRICE SET FOR ELECTRICITY SECTOR - IAN WOLLFF
On the 26th December 2019, the Minister of Energy and Mineral Resources (ESDM) issued the decree No. 261.K/30.MEM/2019 about the States needs for c ...
Thursday, 02 January 20
SULPHUR 2020 COMPENDIUM - HOW ARE INDIVIDUAL PORT STATES EXPECTED TO REACT? - STANDARD CLUB
KNOWLEDGE TO ELEVATE
With the new sulphur limits soon to be in force, Standard Club has been investigating the ways in which certain jurisdict ...
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Showing 1211 to 1215 news of total 6871 |
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- Trasteel International SA, Italy
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
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