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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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Friday, 22 November 19
UNCERTAINTY IN THERMAL COAL MARKET PERSISTED IN 3Q19 - ADARO
Uncertainty in thermal coal market persisted in 3Q19, mainly due to the actions, or inactions, of China in setting policies for global coal market. ...
Friday, 22 November 19
CIL TO DEVELOP 55 NEW COAL MINES IN NEXT 5 YEARS: COAL MINISTER
State-owned CIL will develop 55 new coal mines and expand 193 existing ones in the next five years, Parliament was informed. The company is also un ...
Thursday, 21 November 19
4TH DEEP OFFSHORE WEST AFRICA CONGRESS 2020
4th Deep Offshore West Africa Congress 2020
17 Janaury 2020
Accra, Ghana
Press Release: Following the great succ ...
Thursday, 21 November 19
INDONESIA PLANS TO KEEP $70/T COAL PRICE CAP FOR PLN, DMO - REUTERS
Indonesia’s energy minister Arifin Tasrif said his ministry plans to maintain a price cap on coal being sold to state electricity utility, PT ...
Wednesday, 20 November 19
FOREIGN DIRECT INVESTMENTS IN COMMERCIAL COAL MINING IN INDIA? - DIPESH DIPU
In August 2019, Government of India announced its approval for Foreign Direct Investment (FDI) for coal mining, processing and sale. Not that FDI i ...
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- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Planning Commission, India
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
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