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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, 07 October 20
U.S. COAL PRODUCTION TO DECREASE BY 26 PERCENT IN 2020 COMPARED TO 2019 - EIA
EIA expects total U.S. coal production in 2020 to be 525 million short tons (MMst), compared with 705 MMst in 2019, a 26% decrease.
COVID-19 a ...
Wednesday, 07 October 20
MARKET INSIGHT - INTERMODAL
The challenges brought forward in 2020 proved to be very different from what we could have ever imagined. Together with placing a significant strai ...
Tuesday, 06 October 20
KOSPO TO IMPORT 80,000 MT OF 3,800 NCV COAL FOR 2H NOV
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 MT Min.3800 kcal/kg NCV coal 2H November, 2020 l ...
Friday, 02 October 20
THE INDONESIA COAL PRICE REFERENCE RISE AFTER HISTORIC CRASH TO US$ 49.42
COALspot.com: The Indonesia Coal Price Reference for the month of October Rise to US$ 51.00 after historic crash to US$ 49.42 in September 2020.
...
Friday, 02 October 20
SRI LANKA MUST LEARN LESSONS FROM AROUND ASIA TO AVOID FURTHER ELECTRICITY CRISES - IEEFA
Overcommitment to fossil-fuelled power generation is leading to excess capacity and rising capacity payments, subsidies, and tariffs around the con ...
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- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- PTC India Limited - India
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- The University of Queensland
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
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