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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, 14 December 20
PHILIPPINE BANK RCBC TO STOP LENDING FOR NEW COAL-FIRED POWER PROJECTS - MANILA BULLETIN
Yuchengco-led Rizal Commercial Banking Corporation (RCBC) has forthrightly declared that it will no longer extend financing to new coal-fired power ...
Sunday, 13 December 20
LONGSTANDING DOWNSIDE RISKS TO TRADE OUTLOOK - BALTIC EXCHANGE
The OECD has attempted to put a positive spin on the trade message emanating from its latest economic outlook, released last week.
The ...
Sunday, 13 December 20
INDONESIA COAL OUTPUT AT 514 MILLION TONNES THIS YEAR, 2021 TARGET UNCHANGED - REUTERS
Indonesia coal output in the period to Dec. 10 stood at 514.2 million tonnes, official data from the energy ministry’s website showed.
&n ...
Thursday, 10 December 20
MALAYSIA'S CIMB ANNOUNCES COAL FINANCING PHASE-OUT BY 2040 AS ASIA'S FOSSIL FUEL DIVESTMENT DRIVE ACCELERATES - IEEFA
The first emerging markets bank to announce a progressive coal exit policy
Malaysia’s CIMB Group Holdings (CIMB) has announced ...
Wednesday, 09 December 20
MARKET INSIGHT - INTERMODAL
Heading towards the end of a difficult year and with the entire planet under the shadow of the covid-19 virus, it is interesting to proceed with a ...
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- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
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