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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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Saturday, 28 December 19
SUPRAMAX: A 63,000DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
Capesize
The Capesize market this past week has been attempting to recalibrate itself in consideration of weakening freight levels and increasing ...
Saturday, 28 December 19
CHINESE INDUSTRIAL CITY TO FURTHER CUT COAL CONSUMPTION - XINHUA
Harbin, capital city of Heilongjiang Province in China’s northeastern industrial heartland, is planning to further reduce its coal consumptio ...
Friday, 27 December 19
MISERY LOOMS OVER TOP COAL SHIPPERS AS CHINA TO BUY LESS IN 2020 BLOOMBERG
China isn’t cutting back on consumption of the most-polluting fossil fuel just yet, but it is set to reduce imports.
The world ...
Thursday, 26 December 19
REVIEW OF 2019 AND OUTLOOK FOR 2020 - OPEC
Global economic growth slowed in 2019, impacted by a variety of challenges. Trade issues not only led to reduction in global final consumption but ...
Wednesday, 25 December 19
COVER FOR WAR AND TERRORISM RISKS, AND COVER IN RESPECT OF BIOLOGICAL AND BIO-CHEMICAL WEAPONS - 2020 POLICY YEAR: AMERICAN CLUB
KNOWLEDGE TO ELEVATE
This Circular describes the arrangements which have been made to provide special cover for war and terrorism risks, and c ...
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Showing 1221 to 1225 news of total 6871 |
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- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Planning Commission, India
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Australian Coal Association
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
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