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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, 07 August 20
PEABODY'S $1.42 BILLION WRITE-DOWN CONCEDES COAL MINES HAVE LITTLE VALUE AND DIM FUTURE - IEEFA
Trouble at biggest mine in Powder River Basin speaks volumes about state of industry
Peabody Energy, the world’s largest priva ...
Thursday, 06 August 20
SUPRAMAX MARKET CONTINUED SIDEWAYS TREND, AND LITTLE INSPIRING NEWS APPEAR - FEARNLEYS
Capesize
There is presently a small correction in rates, but overall levels are up from previous week mainly due to increased demand in the Eas ...
Thursday, 06 August 20
KOREA SOUTH-EAST POWER INVITING BIDS FOR MIN 3,600-MAX 3,800 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) inviting bids for 80,000 Tons (MT) Min 3,600~Max 3,800 kcal/kg NCV coal f ...
Wednesday, 05 August 20
NO NEW MINING LICENSES - A REMINDER TO GOVERNORS IN INDONESIA - SSEK
Indonesia’s acting Director General of Mining and Coal (“DGMC”) has issued a letter to the country’s provincial Governors t ...
Wednesday, 05 August 20
AUGUST 2020 HBA HITTING ITS LOWEST LEVELS IN HISTORY
COALspot.com: The Indonesia Coal Price Reference for the month of August plunged 30.73% YoY, hitting its lowest levels in history and highlighting ...
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- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- ASAPP Information Group - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
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