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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, 27 August 20
BANGLADESH POWER MINISTRY SEEKING AUTHORITY TO CANCEL 13,000 MW OF PROPOSED COAL-FIRED CAPACITY - BUSINESS STANDARD
In a bid to move away from dirty energy, the Ministry of Power, Energy and Mineral Resources is seeking the prime minister’s approval to conv ...
Wednesday, 26 August 20
ASIAN COAL PRICES LIKELY TO REMAIN DEPRESSED SAY TRADERS, ANALYSTS - REUTERS
Asian coal prices, which have fallen around 25% this year as power demand slumped due to the coronavirus outbreak, are unlikely to move higher befo ...
Wednesday, 26 August 20
WORLD COAL EXPORTS: INDONESIAN THERMAL COAL EXPORTS HAVE COME UNDER PRESSURE AS THERMAL COAL PRICES WEAKEN - REPORT
Indonesia’s exports to decline sharply from record highs
Indonesia is the world’s largest thermal coal exporter, sellin ...
Wednesday, 26 August 20
JAPAN'S COAL IMPORTS ARE BEING AFFECTED BY COMPETING INFLUENCES - REPORT
Japan is the world’s third largest thermal coal importer, importing an estimated 135 million tonnes of thermal coal in 2019. The country&rsqu ...
Wednesday, 26 August 20
PENDING SOUTH KOREA LEGISLATION COULD FORCE HALT TO COUNTRY’S COAL PLANT EXPORT DEALS - KOREA ECONOMIC DAILY
South Korea’s parliament looks set to pass new legislation to ban financing on foreign coal power projects, putting all overseas coal-fired p ...
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- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Australian Coal Association
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- MS Steel International - UAE
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Parliament of New Zealand
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- White Energy Company Limited
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Goldman Sachs - Singapore
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