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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, 28 September 20
NEW LNG PROJECTS - ALL DRESSED UP AND NO PLACE TO GO - WOOD MACKENZIE
It was meant to be another boom year. After a record 70 mmtpa of new LNG capacity was sanctioned in 2019, at least as much capacity was lined up fo ...
Thursday, 24 September 20
SUPRAMAX: INDO TO INDIA FIXING AROUND US$13,000 - FEARNLEYS
Cape
Over the last week the iron ore segment from Brazil to China has picked up, and we see freight rates up USD 2 (12%) week on week Fearnleys ...
Thursday, 24 September 20
KOREA MIDLAND POWER TO BUY 1.92 MILLION TONS OF 4,300-4,700 NCV COAL FOR THREE YEARS
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 640,000 MT 4,300-4,700 kcal/kg NCV coal per year.
...
Wednesday, 23 September 20
VIETNAM'S NEW POWER DEVELOPMENT PLAN MUST OPTIMIZE RENEWABLES AND AVOID FOSSIL FUEL LOCK-IN: IEEFA
EVN’s financial constraints leaves the utility with little room for error
Implementing Vietnam’s soon-to-be-launched next Power De ...
Wednesday, 23 September 20
MARKET INSIGHT - INTERMODAL
Undoubtedly, this year (ongoing) will never be forgotten because in a matter of months it has managed to severely affect and shape our day to day p ...
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- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Australian Coal Association
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
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