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.
|
|
Thursday, 05 March 20
INDONESIA'S BUKIT ASAM 2019 OUTPUT RISES 10.2% Y/Y - REUTERS
PT Bukit Asam, Indonesia’s state-owned coal miner, said on Wednesday its output in 2019 rose 10.2% to 29.1 million tonnes.
Coa ...
Thursday, 05 March 20
SEEING REMOTELY - IN SAFETY: BUREAU VERITAS PERFORMS FIRST SURVEY BY DRONE - BUREAU VERITAS
Bureau Veritas Marine & Offshore (BV), a world leader in testing, inspection and certification (TIC) services has completed its first survey by ...
Wednesday, 04 March 20
AN EPIDEMIC OF UNCERTAINTY - THE CORONAVIRUS AND FORCE MAJEURE - WFW
KNOWLEDGE TO ELEVATE
Do the effects of the coronavirus give rise to legitimate force majeure claims in connection with shipbuilding contracts ...
Wednesday, 04 March 20
CHINA IMPORTED 76.8 MLN TONNES OF CRUDE OIL FOR JANUARY & FEBRUARY 2020; UP 3.4% YOY - REFINITIV | BC
The COVID-19 crisis has been gripping China already for almost two months now. It’s having a huge negative impact on the economy, and this is ...
Wednesday, 04 March 20
MARKET INSIGHT - INTERMODAL
As it was expected, the whole world has been focusing on the spread of the Coronavirus, with the fast outbreak being primarily a massive humanitari ...
|
|
|
Showing 1091 to 1095 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- White Energy Company Limited
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- MS Steel International - UAE
- Agrawal Coal Company - India
- GMR Energy Limited - India
- PTC India Limited - India
- Xindia Steels Limited - India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Interocean Group of Companies - India
|
| |
| |
|
