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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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Monday, 20 July 20
COAL INDIA LAUNCHES SPECIAL CATEGORY OF E-AUCTION FOR COAL IMPORTERS - BUSINESS STANDARD
Coal India (CIL) on Friday launched a special category of e-auction for importers of coal. This is in line with the government’s declaration ...
Monday, 20 July 20
SUPRAMAX: A 63,000 OPEN NORTH CHINA FIXING AN AUSTRALIAN ROUND IN THE LOW $10,000S - BALTIC BRIEFING
Capesize
The capesize market showed some resistance this week to recent losses as all routes saw a small uptick in value to end the week. With ...
Friday, 17 July 20
MISC MALAYSIA ENTERS INTO PURCHASE AGREEMENTS AND TIME CHARTER PARTIES FOR SIX VLECS
MISC Berhad (MISC) has entered into Memorandum of Agreements (MOAs) with six indirect wholly-owned subsidiaries of Zhejiang Satellite Petrochem ...
Wednesday, 15 July 20
HOW MEANINGFUL ARE SOME ESTIMATES FOR INDIA’S COAL CONSUMPTION DATA? - IEEFA
In recent years, BP's estimates for India have contained what appears to be a record of over-optimistic projections
BP’s a ...
Wednesday, 15 July 20
CHINA'S JUNE COAL IMPORTS FALL 6.7% Y/Y ON PORT CURBS - REUTERS
China’s coal imports dropped 6.7% in June from the same period last year, as stringent import restrictions at ports impeded purchases by trad ...
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- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Australian Coal Association
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Independent Power Producers Association of India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
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