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