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Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even as it aims to start phasing down coal use in the second half of this decade.
Draft rules for the new system did not give details on exactly how the reserve would work, but said the aim was to have 300 million metric tons of “dispatchable” annual coal production by 2030, equivalent to 7% of its 2022 production.
China is the world’s top coal consumer and producer. Last year it produced a record 4.5 billion metric tons.
Beijing set a goal in 2021 to have coal reserves equivalent to 15% of its annual consumption stocked at mines, ports, power plants and some designated storage areas.
The new system will build on these stockpiles by ensuring that a certain amount of production capacity is ready to be mined when needed.
Mines with at least 3 million tons of production capacity a year can apply to be included, said the National Development and Reform Commssion (NDRC). They must be able to dispatch output when the government deems spot prices to have exceeded a “reasonable” range or when supplies are tight.
The move comes as China continues to worry about energy security after a crippling domestic coal and power shortage in 2021 and a European energy crisis last year stoked by Russia’s war on Ukraine, which sent prices of natural gas soaring.
That has prompted Beijing to boost mining of coal and accelerate approvals for new coal power plants, even though it has previously pledged to reduce coal use in the five-year plan beginning in 2026.
The new production reserve is designed to “reduce volatility in short term markets, and also provide a lever to punish speculators or price manipulators”, said David Fishman of Shanghai-based energy consultancy the Lantau Group.
China launched probes into soaring coal prices during the 2021 power shortage.
Prices on NDRC’s Bohai Rim Thermal Coal Price Index jumped from 526 yuan per ton in May 2020 to a peak of 848 yuan per ton in October 2021. However, prices have been relatively steady this year, hovering between 715 yuan and 734 yuan per ton.
The draft rules are open for public comment until Jan. 6, 2024.
Source: Reuters
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Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
Tuesday, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...
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- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Planning Commission, India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Minerals Council of Australia
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
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