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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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Monday, 30 December 19
AUSTRALIAN MINERS HIT BY LOWEST THERMAL COAL PRICE IN MORE THAN A DECADE - THE GUARDIAN
Australian coal exporters have experienced the biggest annual drop in thermal coal prices in more than a decade during 2019, raising doubts about i ...
Monday, 30 December 19
INDIA'S COAL IMPORTS RISE 4% TO 161.43 MT IN APRIL-NOVEMBER 2019 - PTI
The country’s coal imports registered an increase of 4.4 per cent to 161.43 million tonnes (MT) in the April-November period of the ongoing f ...
Sunday, 29 December 19
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Sunday, 29 December 19
IMO 2020 COMPLIANCE: IT'S UP TO US TO BE GOOD CITIZENS - IBIA
One of the concerns around implementation of the 0.50% sulphur limit has been, and continues to be, the need for effective enforcement to ensure a ...
Sunday, 29 December 19
AUSTRALIA SUFFERS WORST OF CHINA'S COAL CURBS AFTER EARLIER BOOM - BLOOMBERG
Australia is bearing the brunt of China’s year-end coal import restrictions, ceding market share to other exporters including Russia and Mong ...
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Showing 1216 to 1220 news of total 6871 |
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- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Aditya Birla Group - India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Economic Council, Georgia
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
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