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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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Wednesday, 02 December 20
INDONESIA CONSIDERING CLOSING 3,400MW SURALAYA COAL PLANT - THE JAKARTA POST
The government is considering to shut down the aging Suralaya coal-fired power plant (PLTU) in Cilegon, Banten, and replace it with green energy, a ...
Wednesday, 02 December 20
MARKET INSIGHT - INTERMODAL
It has been another busy week in the dry bulk secondhand market; a healthy number of sales reported predominantly from Japanese owners while owner& ...
Thursday, 26 November 20
DECLINE IN COAL EXPORTS ADDS TO NAVAJO-OWNED COMPANY'S PROBLEMS - IEEFA U.S.
Weak demand and low prices are likely creating steep losses for NTEC
U.S. coal exports to Asia—once heralded as the saving gra ...
Thursday, 26 November 20
COAL FINANCING QUICKLY DRYING UP WORLDWIDE - ANALYSTS : REUTERS
Financing for coal projects is drying up at ever increasing rates as more countries target zero carbon emissions amid an energy transition sweeping ...
Wednesday, 25 November 20
LIBOR REPLACEMENT AND SHIP FINANCE - WHERE IS IT HEADING? - WFW
The likely replacement of the LIBOR at the end of 2021 creates difficult technical and practical issues for all sectors of business and finance. Th ...
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- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Australian Coal Association
- Bhatia International Limited - India
- Parliament of New Zealand
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Mjunction Services Limited - India
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