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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, 25 November 20
MARKET INSIGHT - INTERMODAL
Over 90% of the world’s goods are transported by sea. LPG is a clean, energy efficient and portable fuel that is being marketed at an afforda ...
Friday, 20 November 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 19 November 20
MARKET INSIGHT - INTERMODAL
As we are moving towards the end of the year, the overall deal landscape of the dry bulk sector corresponding to the second half of 2020 (up to dat ...
Tuesday, 17 November 20
COAL SQUEEZE INTENSIFIES - BALTIC EXCHANGE
The message from the top is clear: cut out coal. While the regulatory pressure has been evident for some time, the race to banish the black stuff s ...
Tuesday, 17 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.35 PCT - XINHUA
China Taiyuan coal transaction price index stood at 128.72 points Monday, up 0.35 percent week on week.
The index, released by China ...
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- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
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- Bulk Trading Sa - Switzerland
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- Baramulti Group, Indonesia
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
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- Holcim Trading Pte Ltd - Singapore
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- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
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- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
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- Neyveli Lignite Corporation Ltd, - India
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- The State Trading Corporation of India Ltd
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- Videocon Industries ltd - India
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- New Zealand Coal & Carbon
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- Indika Energy - Indonesia
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
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- Malabar Cements Ltd - India
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- London Commodity Brokers - England
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