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Monday, 20 July 20
OIL PRICE OF $40-43 PER BARREL MORE OR LESS BALANCED - NOVAK | TASS
.png) The Russian Ministry of Energy considers the current oil price of $40-43 per barrel more or less balanced and does not expect price changes after the weakening of the OPEC+ production restrictions, Energy Minister Alexander Novak told reporters.
“No, we do not expect it, because the market is already conscious of it,” he said, answering a question about whether a change in oil prices is expected in connection with the transition of OPEC+ to some growth in production.
Speaking about the price expectations, Novak said that “now [the oil price] has been holding for a month at the level of $40-43, the price is more or less balanced.”
Extra oil supplies
Oil companies will independently make decisions on the supply of additional oil produced in connection with the growth of production under OPEC+, but it is important to ensure the Russian market first, Russian Energy Minister Alexander Novak told reporters.
“Of course, companies make decisions regarding the execution of their contracts, agreements, but it is important for us to provide for the domestic market, it usually grows in summer. We are increasing it by about 400,000 barrels [per day],” Novak said, answering a question about how much oil can go to the domestic market and how much to export, after Russia begins to increase production as part of the weakening of OPEC+ quotas.
Earlier, Novak said that Russian oil companies, as was previously assumed under the OPEC+ deal, would be able to increase production by 400,000 barrels per day in August 2020 in proportion to their production level.
The OPEC+ agreement entered into force on May 1, it assumes a reduction in oil production by the alliance countries by 9.7 mln bpd during May-July. Russia and Saudi Arabia, according to the agreements, will reduce oil production by equal shares – 2.5 mln bpd from the base level of 11 mln bpd. The agreements will be in effect for two years, but from August to December 2020, 7.7 mln bpd will be cut within the framework of the deal, and from January 2021 to the end of April 2022 – 5.8 mln bpd. The deal’s parameters may be revised in December 2021.
In June, Russia completed the OPEC+ deal to reduce oil production by 99%, reducing oil and condensate production by 16.6% to 38.16 mln tonnes. In August, a smooth transition to production recovery will begin, as stipulated in the agreement. At the same time, companies will increase their volumes in proportion to the level of their production.
Source: TASS
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Monday, 04 January 21
U.S. RENEWABLE ENERGY CONSUMPTION SURPASSES COAL FOR THE FIRST TIME IN OVER 130 YEARS - EIA
In 2019, U.S. annual energy consumption from renewable sources exceeded coal consumption for the first time since before 1885, according to the U.S ...
Monday, 04 January 21
BLISS FOR SHIPOWNERS! DAMAGES MAY BE CLAIMED IN ADDITION TO DEMURRAGE FOR VOYAGE CHARTERPARTY DELAY - WFW
KNOWLEDGE TO ELEVATE
In a significant decision for the maritime sector, The Eternal Bliss[1], the English Commercial Court has resol ...
Sunday, 03 January 21
INDIA: COMMERCE MINISTRY LAUNCHES COAL IMPORT MONITORING SYSTEM - PTI
CIMS shall require importers to submit advance information in an online system for imports of items and obtain an automatic registration number by ...
Wednesday, 30 December 20
A LOOK BACK INTO 2020: THE HEADWINDS, THE TAILWINDS AND EVERYTHING IN BETWEEN - SIGNAL
There is no doubt that 2020 has been a turbulent year for commercial shipping. The coronavirus pandemic has shaken the global maritime transport. T ...
Tuesday, 29 December 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.66 PCT - XINHUA
China Taiyuan coal transaction price index stood at 134.78 points Monday, up 0.66 percent week on week.
The index, released by China ...
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- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Minerals Council of Australia
- White Energy Company Limited
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Australian Coal Association
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
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