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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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Sunday, 30 August 20
PANAMAX - THIS WEEK THE DEMAND HAS PICKED UP, BUT THE TONNAGE LIST IS INCREASING DAY BY DAY - FEARNLEYS
Cape Size
More or less flat from previous week, with cape rates moving from US$ 19,500 to 18,900 on average. West Australia however being more ...
Saturday, 29 August 20
COAL INDIA'S FUEL SUPPLY TO POWER SECTOR DROPS ABOUT 20% IN APR-JUL: PTI
State-owned Coal India”s fuel supply to the power sector registered a decline of 19.5 per cent to 126.30 million tonnes (MT) in the April-Jul ...
Saturday, 29 August 20
SOUTH KOREAN BROKERAGE FIRM KOREA INVESTMENT & SECURITIES TO STOP ALL COAL BUSINESS - KOREA HERALD
South Korean brokerage firm Korea Investment & Securities has decided to stop its investments in coal, in line with the Moon Jae-in administrat ...
Thursday, 27 August 20
KOREAN GENCOS INVITED BIDS FOR TOTAL 985,000 TONS OF BITUMINOUS COAL FOR NOVEMBER 2020 LOADING
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 985,000 ...
Thursday, 27 August 20
SOUTHEAST ASIAN NATIONS SET REGION-WIDE RENEWABLE ENERGY GOAL OF 23 PERCENT BY 2025 - ASEAN POST
The Association of Southeast Asian Nations (ASEAN) has set an ambitious target of securing 23 percent of its primary energy from renewable so ...
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- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- PTC India Limited - India
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- The University of Queensland
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
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