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