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Friday, 20 March 20
OIL PRICES COULD FALL BELOW ZERO: ANALYST - FOX BUSINESS
Plunging oil prices could be headed a lot lower – possibly below zero, according to one Wall Street analyst.
West Texas Intermediate crude oil, the U.S. benchmark, fell by more than 10 percent Wednesday to near $24 a barrel, a level last seen in April 2002.
“Oil prices can go negative,” wrote Paul Sankey, managing director at Mizuho Securities.
The COVID-19 pandemic has brought the U.S. and global economy to a standstill by prompting “shelter in place” orders, social distancing between people and the cancellation of non-essential travel. The sharp slowdown in economic activity has curtailed the need for oil.
If that weren’t enough, Saudi Arabia recently slashed oil prices and raised output after Russia refused to join OPEC in deepening production cuts.
Oil is a 100 million barrel-per-day market, but Sankey says it’s possible that the economic fallout from the pandemic could zap demand, creating a 20 million barrel-per-day surplus.
He says the “physical reality” of the market is that oil is pumped out of the ground and has to be consumed or stored. When the cost of storage goes high enough — or space runs out — companies might pay customers to take it.
For now, President Trump has ordered the Department of Energy to take advantage of low prices by stepping into the market and buying oil for the Strategic Petroleum Reserve.
The reserve can build at 2 million barrels per day, meaning that it has four months until it’s at capacity, Sankey said.
By then, he added, high-cost oil from the Bakken shale formation in the U.S. or bitumen from the Canadian oil sands, “prices negatively because it exceeds needs” and requires storage, Sankey wrote. “Negative prices are simply a higher cost of storage than market.”
Sankey isn’t the only one on Wall Street who is sounding the alarm about the coming flood of oil.
Excess supply from OPEC and Russia, coupled with crumbling demand “are leading to concerns about a surplus that could overwhelm global storage,” wrote Francisco Blanch, a commodity strategist at Bank of America.
He warns the demand destruction caused by COVID-19 and the price war between Saudi Arabia and Russia could cause inventories to swell by 900 million barrels in the second quarter alone. He estimates the world currently has about 1.5 billion barrels of available storage.
Blanch’s worst-case scenario isn’t as dire as Sankey’s.
“In a severe scenario, if the market struggles to find a home for surplus barrels, then oil prices might have to trade down into the teens,” he wrote.
Source: Fox Business
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Tuesday, 07 April 20
IS CHINA EMBARKING ON A MAJOR EXPANSION OF COAL-FIRED POWER GENERATION? - WOOD MACKENZIE
As energy companies worldwide grapple with the economic impact of the coronavirus pandemic, long-term planning continues. Ahead of the release of t ...
Tuesday, 07 April 20
COAL INDIA'S DISPATCHES DROP, OUTPUT INCREASES - THE HINDU
India’s largest coal producer Coal India Ltd. (CIL) has seen a 10% fall in dispatches in March 2020 due to a sharp fall in demand from the po ...
Tuesday, 07 April 20
CORONAVIRUS AND LOCKDOWNS DRAG DOWN THE INDONESIAN COAL PRICE REFERENCE IN APRIL
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of the Indonesian ther ...
Monday, 06 April 20
A 52,000DWT SHIP FIXING DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY TAIWAN, AT $3,100 - BALTIC BRIEFING
Capesize
The Capesize market this past week looks to have come off life support and found some improved sentiment. The week began rather ordina ...
Monday, 06 April 20
INDIA'S 21-DAY LOCKDOWN - IMPACT ON COMMODITIES? - WOOD MACKENZIE
India is under a three-week lockdown from 25 March, to contain the spread of the coronavirus outbreak. Wood Mackenzie analysts discuss what this me ...
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Showing 1026 to 1030 news of total 6871 |
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- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Australian Coal Association
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Planning Commission, India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- PTC India Limited - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
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