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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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Thursday, 17 December 20
CHINA'S BAN IS LESS OF A THREAT TO AUSTRALIA'S COAL INDUSTRY THAN INTERNATIONAL CLIMATE AMBITION - IEEFA
Australian coal exporters will survive this near-term political fight but there are longterm structural headwinds
The decision by Ch ...
Thursday, 17 December 20
BUMA SIGNED US$1.0 BILLION WORTH OF EXTENSION CONTRACT WITH BERAU COAL
PT Bukit Makmur Mandiri Utama, subsidiary of PT Delta Dunia Makmur Tbk., has extended its mining services contracts with PT Berau Coal, in relation ...
Wednesday, 16 December 20
INDONESIA 2020 COAL CONSUMPTION ESTIMATED AT 140-145 MLN TONNES - OFFICIAL, REUTERS REPORTED
Indonesia’s domestic coal consumption is estimated at 140-145 million tonnes this year, Dodik Ariyanto, an official at the energy ministry, t ...
Wednesday, 16 December 20
RUSSIA REVISES DOWN EXPORT EXPECTATION - FITCH
The Ministry of Economy of Russia, the world’s third largest thermal coal exporting country, released its annual forecasts ...
Wednesday, 16 December 20
INDIAN COAL IMPORTS TO REMAIN SUBDUED - FITCH RATINGS
Fitch Rating commented on Indian Coal Imports, Fitch said, coal imports by Indian utilities fell by about 24% yoy to 44 million tonnes (mt) i ...
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- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Planning Commission, India
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Economic Council, Georgia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
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