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