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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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Wednesday, 19 August 20
COAL INDIA TRADE UNIONS DEFER DAY-LONG STRIKE: PTI
The unions had decided to go on strike against the commercial mining and the proposed divestment or buyback of shares of Coal India Ltd (CIL).
...
Wednesday, 19 August 20
MISC MARKS ITS MAIDEN FORAY INTO MAJOR DEEP-WATER PROJECT IN LATIN AMERICA WITH MERO 3 FPSO
MISC Berhad (MISC) is pleased to announce its acceptance of Letter of Intent (LOI) from Petróleo Brasileiro S.A. (Petrobras) for the provisi ...
Wednesday, 19 August 20
MARKET INSIGHT - GEORGE LAIOS | INTERMODAL
Since the Covid-19 outbreak, governments and central banks around the globe have been using their ammunition and stimulus packages to keep their ec ...
Wednesday, 19 August 20
INDIA SAW A SHARP DECLINE IN ENERGY COAL IMPORTS IN JANUARY - JUNE 2020; –27 PER CENT YOY - BHP
Energy coal prices were weak in the second half of financial year 2020, BHP says in its Economic and Commodity Outlook FY20.
Accordi ...
Wednesday, 19 August 20
COAL PRICES TO REMAIN SUBDUED THIS FISCAL AMID WEAK DEMAND, HIGH INVENTORY - THE HINDU BUSINESS LINE
Coal offtake is improving gradually as lockdown eases
Coal prices are expected to remain subdued to weak demand and high inventory l ...
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- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Australian Coal Association
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
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