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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, 19 December 19
BANGLADESH'S NBR CUTS VAT ON COAL IMPORT FOR POWER PLANTS - THE DAILY STAR
The National Board of Revenue (NBR) reduced value added tax on the import of coal for power plants to 5 percent from present 15 percent for five ye ...
Wednesday, 18 December 19
AVERAGE PRICES OF COAL IN 2018 WERE MORE THAN 60% HIGHER THAN IN 2016 - IEA
Coal use grew again in 2018.
Global coal demand increased by 1.1%, continuing the rebound that began in 2017 after three years of decline ...
Wednesday, 18 December 19
ASIA IS SET TO SUPPORT GLOBAL COAL DEMAND FOR THE NEXT FIVE YEARS - IEA
Press Release: Global coal demand is expected to decline in 2019 but remain broadly stable over the next five years, supported by robust growth in ...
Wednesday, 18 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we all know very well by now, the reduction in the maximum allowable sulphur content of marine fuels in 2020 is likely to have a massive impact ...
Tuesday, 17 December 19
AUSTRALIA ENERGY MARKET OPERATOR TURNS SCROOGE ON COAL LOBBY: RUSSELL
Australia, which vies with Indonesia for the title of the world’s largest coal exporter, is planning for an electricity future where use of t ...
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- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Planning Commission, India
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
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