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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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Wednesday, 01 July 20
MARKET INSIGHT - INTERMODAL
It was beginning of 2020 – close to 6 months from now – when we first experienced the huge impact of the COVID 19 outbreak on Ship Repa ...
Monday, 29 June 20
INDONESIAN COAL AT THE MERCY OF THE DRAGON AND TIGER - GHEE PEH | IEEFA
Coal sector analysts have been busy in recent months mapping the negative impact of low coal prices from the COVID-19 pandemic on Indonesian coal c ...
Monday, 29 June 20
FALLING DEMAND IN CHINA AND INDIA SIGNAL TOUGH TIMES AHEAD FOR INDONESIAN EXPORTS - GHEE PEH | EEFA
Assessing the Impact on Indonesian Coal Companies
The bad news for Indonesia’s coal companies is that they are likely to have ...
Monday, 29 June 20
INDIA COAL IMPORT OUTLOOK: WEAK DEMAND, IMPORT SUBSTITUTION, EXPECT 20% YOY DECLINE - GHEE PEH | IEEFA
For India, the coal demand indicators have clearly turned negative.
According to Argus Media, since the government declared a ...
Monday, 29 June 20
CHINA COAL IMPORT OUTLOOK: MANY MOVING PARTS, FORECAST TO FALL 10% YOY - GHEE PEH | IEEFA
China’s coal demand declined in the first quarter of 2020. According to the China National Coal Association, the country consumed 870mt in th ...
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- Power Finance Corporation Ltd., India
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- Videocon Industries ltd - India
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- The University of Queensland
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- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
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- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
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- TNB Fuel Sdn Bhd - Malaysia
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- Romanian Commodities Exchange
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- Oldendorff Carriers - Singapore
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- Jorong Barutama Greston.PT - Indonesia
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- European Bulk Services B.V. - Netherlands
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- Metalloyd Limited - United Kingdom
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- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
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- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
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- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
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- India Bulls Power Limited - India
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- Trasteel International SA, Italy
- Economic Council, Georgia
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- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Australian Coal Association
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- Sarangani Energy Corporation, Philippines
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- Baramulti Group, Indonesia
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- Heidelberg Cement - Germany
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- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- White Energy Company Limited
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- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
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- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
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- Therma Luzon, Inc, Philippines
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- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- GMR Energy Limited - India
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
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- Simpson Spence & Young - Indonesia
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- Straits Asia Resources Limited - Singapore
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