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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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- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Planning Commission, India
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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