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Tuesday, 07 December 21
COAL WOULD REMAIN ENERGY LEADER FOR AT LEAST 15 YEARS - LIVEMINT
Coal India Ltd (CIL) has been in the eye of the storm after fuel stocks at coal-fuelled power plants depleted in October. Fuel stocks since are being replenished.
n an email interview, Pramod Agrawal, chairman of world’s largest coal miner, spoke about scaling down of production by power plants which were reliant on costly imported coal, leading to domestic coal-fuelled power plants to step in. Agrawal, an IAS officer of the Madhya Pradesh cadre, also spoke about a likely increase in prices of the fossil fuel and stated that coal would keep its leadership of the energy landscape for at least a decade-and-a-half despite the focus on clean energy.
What were the problems faced due to state generation companies (gencos), ramping down of generation by imported coal fuelled power projects and inadequate buildup of fuel stocks at power projects, specifically during the summer and monsoon?
Owing to high international coal prices, 14 imported coal-based power plants scaled down their generation to 28.24 billion units (BU) during April-October’21 compared to 44.96 BU in the same period a year earlier, which resulted in a generation fall of 37%. Domestic coal-based power plants had stepped in to meet the gap where CIL had supplied around 20 million tonnes of additional coal. Supply fluctuation during the monsoon is a normal seasonal trend which this year got amplified due to a sudden surge in power generation leading to unprecedented coal demand. In fact, our supplies to the power sector are at an all-time high so far. With improved supplies, 20 mt of coal stock has been built up at power plants so far, the bulk of it from CIL sources. We are targeting to boost the stocks further to adequate levels by the fiscal-end. Outstanding receivables are the only concern with state gencos.
What is the latest coal production and offtake data and trajectory for meeting annual production target of 670 mt for FY22?
As of November-end, our production was nearly 354 mt, logging 5.6% year-on-year growth. Realistically, we may close the fiscal with an output of 640 mt. On the off-take front, our supplies have taken a leap to 421 mt, which is an increase of 64 mt over last year same period, with a growth of 18%. If coal demand pans out favourably, we are aiming at 680 mt despatches by the fiscal year-end. We also plan to supply more than 540 mt of coal to the power sector which would be a record high.
What is the proposed action plan to meet growing demand for coal in the country, especially keeping in view the 1 billion tonne production target by FY24?
Scaling up coal production is imperative. Currently, coal demand is high and is likely to sustain in the future. Our plan to ramp up production includes close monitoring of 35 major projects which account for 70% of our entire production. To boost future production, we are pursuing MDO (mine developer and operator) mode and cleared 13 of 15 such greenfield projects having a combined capacity of 170 mtpa (million tonnes per annum). Global tenders have been floated for 10 projects. For the ongoing fiscal, nine coal mining projects having a total capacity of around 67 mtpa and incremental capacity of 37 mtpa have been green-flagged. This comes on the heels of highest-ever 36 coal mining projects cleared in FY21 which have a total capacity of approximately 333 mtpa. We are also in constant dialogue with state governments for land acquisition to expand our operations. All these efforts would push up our production.
Are we looking at a coal price hike soon? Any indication on how much it would be and other details.
It is likely to happen but to draw a timeline would not be possible. For the last four years, there has been no price increase but most of the input costs including diesel and explosives have increased. Despite this, our prices held steady. We are now reaching a level where to stay commercially viable, price increase is essential; when and how much would be a collective board decision. But the idea is we have to be adequately compensated and whatever the increase should take care of our Ebitda (earnings before interest, taxes, depreciation and amortization). While protecting our bottom line, we will also consider the impact on price of energy in the country because coal price increase has an influence on various commodities. We will take all our stakeholders on board.
Coal is under fire from environmentalists. What would be coal’s standing in the energy mix of the country in future?
Environmental concerns revolving around coal are understandable and justified. We are sensitive to environmental protection in our production and transportation and are reducing CO2 emissions and particulate matter to the extent possible. However, the journey of coal is not going to end anytime soon, and it will continue to retain its energy leadership for at least a decade and half to come. Coal’s percentage in the energy basket may reduce with renewables and cleaner sources gradually filling up more, but in absolute terms coal’s contribution will be higher. Forcing out coal in the absence of alternative energy sources to replace its role is not a viable option. It is certain that at some point of time in future coal has to step down from the high pedestal that it currently occupies in the country’s energy hierarchy. But the big question is when. Till such time, coal is here to stay.
Source: LiveMint
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Monday, 06 December 21
CHINA SETS 2022 ANNUAL THERMAL COAL PRICES AT 700 YUAN/T - MEDIA: REUTERS
China’s top economic planner has proposed to set annual thermal coal prices for 2022 at between 550 yuan and 850 yuan ($86-$133) per tonne, a ...
Thursday, 02 December 21
BUMI RECORDED US$ 666.18 MILLION AS REVENUE IN THE 3RD QUARTER, UP 13.31% YOY
PT Bumi Resources Tbk and its subsidiaries have recorded a surge in revenue in the third quarter of 2021. BUMI has recorded US$ 666.18 million as r ...
Thursday, 02 December 21
CHINA'S COAL CRUNCH IS OVER, BUT PRICES ARE STILL TOO HIGH - REUTERS
China’s coal crisis has largely been resolved with gains in both production and stockpiles sufficient to ensure power supplies over winter.
...
Wednesday, 01 December 21
2022 OUTLOOK: INDONESIAN COAL MINING - FITCH RATINGS
Fitch Ratings has a neutral outlook on the Indonesian coal sector for 2022.
Earnings generation should slow down as selling pr ...
Wednesday, 01 December 21
SUPPLY OF COAL TO POWER PLANTS IN NOV MORE THAN CONSUMPTION: JOSHI - PTI
The supply of coal to power plants in November is more than the consumption, resulting in rise in stock of dry fuel at power plants, and this trend ...
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- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Planning Commission, India
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- MS Steel International - UAE
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
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