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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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Tuesday, 29 December 20
CORROSION-RESISTANT STEELS FOR CARGO OIL TANKS - DNV GL
KNOWLEDGE TO ELEVATE
Crude oil is a complex mixture of substances at varying ratios and in most cases contains at least some salt water. ...
Tuesday, 29 December 20
CHINA COKING COAL FUTURES RISE FOR THIRD DAY ON SUPPLY WORRIES - REUTERS
Chinese coking coal futures extended gains into a third session on Monday, jumping as much as 6.2% as lower imports, sliding inventories and mines ...
Wednesday, 23 December 20
COKING COAL'S DECLINE LIKELY TO FOLLOW THE PATH OF THERMAL COAL’S PROGRESSIVE DEMISE - IEEFA
Technology disruption the likely theme of global energy markets in 2021
There has been a growing tsunami of climate commitment annou ...
Wednesday, 23 December 20
MARKET INSIGHT - INTERMODAL
As we all know, China forges more steel than the rest of the world combined, and even during this unprecedented pandemic, the nation is set to brea ...
Tuesday, 22 December 20
2021 DRY BULK OUTLOOK - SUPPLY GROWTH - TORVALD KLAVENESS
In the first article in the series we mentioned that dry bulk freight was in a super cycle between 2001 and 2008. The growth in global yard capacit ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Parliament of New Zealand
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- The University of Queensland
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Planning Commission, India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
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