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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, 17 November 20
AUSTRALIAN COAL EXPORTS TO CHINA SLUMP, BUT PRICES ARE MIXED - REUTERS
China’s unofficial ban on coal imports from Australia is starting to take its toll on volumes, with departing cargoes down sharply so far in ...
Friday, 13 November 20
SHIPPING OUTLOOK TURNS STABLE ON EBITDA GROWTH, IMPROVING SUPPLY-DEMAND BALANCE - MOODY’S
Outlook revised to stable from negative.
The global shipping industry is on course to perform better overall than we had previously ex ...
Friday, 13 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 ...
Monday, 09 November 20
INDONESIA MAY CUT BIODIESEL USE TARGET AS SUBSIDY FUND DEPLETES - FITCH
The Indonesian government may rein in its push to increase use of biodiesel as it now comes at higher cost following a fall in crude oil prices and ...
Monday, 09 November 20
SOUTH AFRICA: COAL MARKET CONDITIONS HAVE ' DETERIORATED MATERIALLY' - IEEFA
The Asian seaborne thermal coal pool is drying out
Resource Generation Ltd’s proposed but long delayed Boikarabelo coal mine i ...
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- Mercuria Energy - Indonesia
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- Indian Oil Corporation Limited
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- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
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- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
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- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
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- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- The University of Queensland
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- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
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- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
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