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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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Friday, 21 August 20
BHP COMMITS TO SELLING ITS THERMAL COALMINES WITHIN TWO YEARS - THE GUARDIAN
Move follows pressure from investors but company stops short of full exit from coalmining
BHP has announced it plans to sell off its ...
Thursday, 20 August 20
MINER BHP CONFIRMS PLANS TO EXIT THERMAL COAL SECTOR - THE SYDNEY MORNING HERALD
The head of mining giant BHP has laid out plans for a reshaping of its global operations by seeking to quit thermal coal mining, offload some cokin ...
Thursday, 20 August 20
LONDON RETAINS ARBITER CROWN - BALTIC EXCHANGE | HFW
Fears that the UK’s decision to leave the European Union would dent the reputation of the nation’s capital as the leader in maritime ar ...
Wednesday, 19 August 20
U.S. COAL STOCKPILES STEADILY INCREASE AFTER REACHING LOWEST LEVEL IN A DECADE IN 2019 - EIA
After reaching their lowest level in more than a decade in March 2019, U.S. coal stockpiles steadily increased to 152 million tons in April 2020, r ...
Wednesday, 19 August 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.26 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.92 points Monday, down 0.26 percent week on week.
The index, released by Chi ...
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- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- Parliament of New Zealand
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
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