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