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