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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, 27 October 20
PLN STILL REFUSING TO ADAPT, A MOVE WHICH WILL HURT INVESTORS, CONSUMERS, AND THE GOVERNMENT PURSE - IEEFA
Utility’s latest planning report locks PLN into the past
PLN would be better served restructuring its business to address the current en ...
Monday, 26 October 20
'LONG ASCENT' TO RECOVERY OF GLOBAL GROWTH - BALTIC EXCHANGE
The global economy has so far avoided a “financial catastrophe” but growth projections from the International Monetary Fund’s lat ...
Friday, 23 October 20
SHIPPING LOANS AND COLLATERAL DAMAGE - VICTOR ONYEGBADO, AKABOGU & ASSOCIATES
KNOWLEDGE TO ELEVATE
Shipping finance transactions are characterised by peculiar risk factors principally on account of the shipping asset&rsq ...
Friday, 23 October 20
WHAT WILL THE 2020 ELECTIONS MEAN FOR US ENERGY? - WOOD MACKENZIE
The 2020 elections present American voters with a choice between two radically different visions for the future of energy. President Donald Trump r ...
Wednesday, 21 October 20
BRAZIL EXPORTED 238.7 MLN TONNES OF IRON ORE IN THE FIRST 9 MONTHS OF 2020 - BANCHERO COSTA
Brazil’s iron ore exports have been gradually but steadily recovering following a disastrous winter period of 2019/2020. In the first 9 month ...
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- Australian Coal Association
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
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- Vedanta Resources Plc - India
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- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- The University of Queensland
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
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