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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, 31 July 20
BOTSWANA PLANS MORE COAL-FIRED POWER AS AFRICAN SOLAR ACCELERATES - IEEFA
An African economic leader like Botswana should embrace solar to reduce subsidies and tariff hikes
As Sub-Saharan solar ambition has ...
Wednesday, 29 July 20
2019 U.S. COAL PRODUCTION FALLS TO ITS LOWEST LEVEL SINCE 1978 - EIA
In 2019, U.S. coal production totaled 706 million short tons (MMst), a 7% decrease from the 756 MMst mined in 2018. Last year’s production wa ...
Wednesday, 29 July 20
MARKET INSIGHT - INTERMODAL
The dry bulk sector is beginning to recover from reduced SnP activity recorded in the first quarter of 2020. The table below illustrates that appro ...
Tuesday, 28 July 20
DEUTSCHE BANK TO END GLOBAL BUSINESS ACTIVITIES IN COAL MINING BY 2025 - REUTERS
Deutsche Bank, in a revamp of its policies for fossil fuels, said on Monday that it would end business activities worldwide related to coal mining ...
Monday, 27 July 20
IEEFA ENERGY FINANCE CONFERENCE 2020: COAL, LNG, PETROCHEMICAL SECTORS FACE POOR OUTLOOK AND UPHILL BATTLE FOR INVESTORS
Fossil fuel industries were becoming less financially attractive even before the global coronavirus pandemic
Three major fossil fuel ...
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- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- The University of Queensland
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Australian Coal Association
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Aditya Birla Group - India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
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