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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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Thursday, 10 September 20
U.S. COAL PRODUCTION IN 2020 TO BE 511 MMST, 28 PER CENT LOWER THAN IN 2019 - EIA
EIA expects total U.S. coal production in 2020 to be 511 million short tons (MMst), 194 MMst (28%) lower than in 2019. Mitigation efforts related t ...
Thursday, 10 September 20
DRY BULK SHIPPING: CHINA'S DEMAND KEEPING THE DRY BULK MARKET GOING - PETER SAND | BIMCO
Overview
An impressive recovery in Chinese dry bulk imports has protected the industry from the effects of falling demand in the rest of the wo ...
Thursday, 10 September 20
TANKER SHIPPING: FREIGHT RATES BACK AT LOSS-MAKING LEVELS AFTER 12 VERY PROFITABLE MONTHS - BIMCO
Overview
A stunningly strong 12 months for the tanker shipping industry is now being replaced by lower freight rates, as lower oil product ...
Thursday, 10 September 20
INDIA'S COAL IMPORTS STUMBLE IN AUGUST, RAISING RISK OF SLOW RECOVERY - REFINITIV | BANCHERO COSTA
After posting a mild recovery in July, India's coal imports have stumbled in August as the South Asian nation battles to restart it ...
Thursday, 10 September 20
THE FIRST 8 MONTHS OF 2020, INDONESIA EXPORTED 217.4 MLN TONNES OF COAL BASED ON REFINITIV - BANCHERO COSTA
The coal market has been hit by a weaker global economy as a result of COVID-19 pandemic and falling industrial electricity demand ...
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- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- PTC India Limited - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
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