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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, 02 November 20
PHILIPPINES GOVERNMENT SAYS NO TO NEW COAL PLANT PROPOSALS - IEEFA | 24 PILIPINAS
The Duterte administration will no longer accept proposals to construct new coal power plants, a dramatic shift in energy policy that counts on dec ...
Sunday, 01 November 20
GRADUAL RECOVERY FOR INDONESIAN COAL FROM 4Q20; RISKS REMAIN - FITCH RATINGS
Fitch Ratings expects the credit metrics of Indonesian coal miners and coal contractors to improve from 4Q20 with the recovery in volumes and price ...
Wednesday, 28 October 20
BIODIESEL - NEW FUELS, NEW CHALLENGES - GARD | DNV GL
KNOWLEDGE TO ELEVATE
One of numerous possible ways to comply with the IMO’s strategy on the reduction of greenhouse gas (GHG) emissions ...
Wednesday, 28 October 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.35 PCT - XINHUA
China Taiyuan coal transaction price index stood at 127.94 points Monday, up 0.35 percent week on week.
The index, released by China ...
Wednesday, 28 October 20
MARKET INSIGHT - INTERMODAL
The global strive towards eco-friendliness and environmental sustainability in the shipping industry is mounting. There are currently almost 200 co ...
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- Price Waterhouse Coopers - Russia
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- Pipit Mutiara Jaya. PT, Indonesia
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- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
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- Maheswari Brothers Coal Limited - India
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- Economic Council, Georgia
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- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
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- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
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- LBH Netherlands Bv - Netherlands
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- Orica Australia Pty. Ltd.
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- New Zealand Coal & Carbon
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- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
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- Attock Cement Pakistan Limited
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- Bangladesh Power Developement Board
- Romanian Commodities Exchange
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- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Minerals Council of Australia
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- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- The University of Queensland
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- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
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- White Energy Company Limited
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
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- The State Trading Corporation of India Ltd
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- South Luzon Thermal Energy Corporation
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