We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 31 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.43 PCT - XINHUA
China Taiyuan coal transaction price index stood at 132.17 points Monday, down 0.43 percent week on week.
The index, released by Chi ...
Tuesday, 31 March 20
COAL POWER REMAINS IN GLOBAL DECLINE, DESPITE CHINESE SURGE - SYDNEY MORNING HERALD
The impact of coronavirus has prompted a surge in coal-fired power plant construction permits in China, with the Chinese government issuing more pe ...
Monday, 30 March 20
CORONAVIRUS - IMPLICATIONS FOR SHIPS AND CREW - GARD
KNOWLEDGE TO ELEVATE
Countries around the world are strengthening their border control measures in order to prevent the further spread of COVI ...
Monday, 30 March 20
LAY-UP AND RE-ACTIVATION REVISITED - GARD
KNOWLEDGE TO ELEVATE
The COVID-19 pandemic has affected the maritime industry in previously unthinkable ways. Ports around the world are denyi ...
Monday, 30 March 20
PANAMAX: INDONESIA LACKED VOLUME, PARTLY DUE TO FORCE MAJEURE IN INDIAN PORTS - BALTIC BRIEFING
Capesize
As Covid-19 continued to ratchet up tensions across the globe, the Cape market dealt with the change to remote working. Most regions o ...
|
|
|
Showing 1036 to 1040 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- The Treasury - Australian Government
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Minerals Council of Australia
- The University of Queensland
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
|
| |
| |
|
