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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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Tuesday, 25 August 20
INDIA'S IMPORTS FALL AS LOCKDOWNS IMPACT THE POWER AND INDUSTRIAL SECTORS - REPORT
India is the world’s second largest thermal coal consumer and importer, importing an estimated 211 million tonnes of thermal coal in 2019.&nb ...
Monday, 24 August 20
A COMBINATION OF DEVELOPMENTS DROVE THE FALLOFF COAL PRICES - CHIEF ECONOMIST’ OFFICE, AUSTRALIA
China, rising domestic production combined with subdued power demand;
India, a lockdown coupled with government directives that fav ...
Monday, 24 August 20
AUSTRALIA'S THERMAL COAL EXPORTS ARE FORECAST TO DROP FROM AN ESTIMATED $20 BILLION IN 2019-20 TO $16 BILLION IN 2020-21: REPORT
Thermal coal spot prices have fallen sharply as the impact of COVID-19 drives a contraction in seaborne trade for only the second time this century ...
Saturday, 22 August 20
REPORT SEES INDIA’S RELIANCE ON THERMAL POWER DROPPING TO 50% IN 2021, 43% IN 2026 - ET ENERGY | IEEFA
India’s dependence on thermal power will reduce to 50 per cent by 2021-22 and 43 per cent by 2026-27 on the back of renewable energy (RE) cap ...
Friday, 21 August 20
323 MILLION ELECTRIC VEHICLES WILL BE ON THE ROADS BY 2040 - WOOD MACKENZIE
Electric vehicle (EV) sales are expected to reach 45 million units per year by 2040, with a total global EV stock of 323 million, according to new ...
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- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- PTC India Limited - India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
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