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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, 05 August 20
SLUMP IN OIL REVENUE CHALLENGES MIDDLE EAST OIL EXPORTERS - INTERMODAL
The Covid-19 pandemic has had far-reaching consequences on the global capital markets. Despite the US government’s efforts for a quick and de ...
Tuesday, 04 August 20
KOEN INVITED BIDS FOR TOTAL 900K MT OF MIN 5600 NCV COAL FOR 3 YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 260,000 to 300,000 Tons (MT) min. ...
Tuesday, 04 August 20
THE WORLD’S FLEET OF COAL-FIRED POWER STATIONS HAS GOT SMALLER FOR THE FIRST TIME ON RECORD, WITH MORE CAPACITY RETIRED IN THE FIRST HALF OF 2020 THAN THE AMOUNT OPENED - IEA
This is according to the latest Global Coal Plant Tracker (GCPT) results by Global Energy Monitor (GEM), which we completed last month and report f ...
Monday, 03 August 20
U.S. COAL CONSUMPTION, WHICH HAS DECLINED SINCE ITS 2007 PEAK, FELL TO ITS LOWEST POINT IN APRIL 2020 - EIA
According to the U.S. Energy Information Administration’s (EIA) most recent Monthly Energy Review, the United States consumed 6.5 quadrillion ...
Monday, 03 August 20
LOW OIL PRICE AND CORONA VIRUS HIT SUB-SAHARAN AFRICA OIL PRODUCERS - FITCH RATINGS
The collapse in oil prices and the coronavirus shock is worsening the fiscal and external balances of sub-Saharan African oil producers, Fitch Rati ...
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- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
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- Mercuria Energy - Indonesia
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- San Jose City I Power Corp, Philippines
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- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
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- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
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- Miang Besar Coal Terminal - Indonesia
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- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
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- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
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- Formosa Plastics Group - Taiwan
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- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Tamil Nadu electricity Board
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- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
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- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
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- Parliament of New Zealand
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- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
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- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- VISA Power Limited - India
- ICICI Bank Limited - India
- MS Steel International - UAE
- The University of Queensland
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Australian Coal Association
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Planning Commission, India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
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- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
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- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
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