India's Thermal Coal Imports Could Rise 10 pct in 2019
India's thermal coal imports could rise by about 10 percent in 2019 due to rail transport problems and other logistical bottlenecks, an executive at the country's largest coal trader Adani Enterprises said on Tuesday.Thermal coal imports rose in 2018 after two years of decline, despite moves by Prime Minister Narendra Modi’s government…
India Produces More Coal but Misses Target Goals
What's more important? The fact the Coal India will once again miss its annual output target, or that it will produce over 31 million tonnes more than it did the previous year? Recent media reports have highlighted that Coal India Ltd (CIL), the state-owned behemoth that's the world's largest miner of the fuel, will likely miss its target of producing 598 million tonnes in the fiscal year ending March 31.
Chevron Seeks to Exit Caltex Australia
Chevron selling 135 mln shares at 9.7 pct discount to Fri close. U.S. energy firm Chevron is seeking to sell its entire stake in Caltex Australia Ltd for about A$4.6 billion ($3.6 billion), exiting Australia's biggest refiner after nearly 40 years as falling oil prices and high costs hurt margins. A successful sale of Chevron's 50 percent stake…
India's Coal Imports to Jump 19% in 2014/15
India's coal imports are expected to jump 19 percent to a record of about 200 million tonnes this fiscal year, Coal Secretary Anil Swarup told Reuters, as power companies add capacity to meet rising demand even as millions go without electricity. Shipments into the world's third-largest coal importer are, however, likely to slide…
India to Open Coal to Commercial Mining Firms
India expects to hold auctions for private firms to mine and sell coal in the near future, the country's coal and power minister Piyush Goyal said but first wants to deal with mines that are directly linked to plants that use the fuel. To boost output and cut imports, Prime Minister Narendra Modi passed an executive decree in December to open up India's nationalised coal industry.
Futures Rise, Physical Quiet on Mild Weather
European thermal coal futures rose on Wednesday afternoon, tracking oil prices, but trade was quiet in physical markets. The API2 2015 contract was almost 2 percent higher at $72.90 a tonne at 1410 GMT. Oil edged up above $86 a barrel after an industry report showed a smaller-than-expected rise in U.S. crude inventories, extending a tentative recovery from a four-year low.
India Scraps Most Allocated Coal Blocks
Companies have six months to return mines; Govt free to auction mines after March 31. Reliance, NTPC, SAIL given exemptions from ruling. India's top court on Wednesday scrapped all but four of 218 coal blocks allocated by the government over the past two decades, in a tougher-than-expected ruling that sank shares of companies that have invested heavily in projects around the concessions.
Indian Coal Stocks Lowest Since 2012 Blackouts
State-run Coal India unable to meet rising demand; Fall in hydro power adding to grid problems. Half of India's thermal power stations have less than a week's supply of coal on hand, according to weekly data, the lowest level since mid-2012 when hundreds of millions of people were cut off in one of the world's worst blackouts.
Indian Coal Imports Expected to Jump in 2015
India's largest power producer, NTPC Ltd, will import about two-thirds more coal this fiscal year, its chairman said, as it looks to meet the country's growing power needs amid an acute shortage of coal in a sector hamstrung by scandals. The state-run company's total coal requirement for the financial year ending March 2015 is estimated at 177 million metric tonnes (MMT)…
Coal India Profit Rises as Output Grows
Coal India Ltd, the world's largest coal producer, said net profit rose eight percent in the April-June quarter from a year earlier as mine expansions helped boost output by five percent. Though production inched up to 108.3 million tonnes, it was still below the company's target for the period. The state behemoth has been unable…
Coal India Unit Shuts Three Mines after Protests
Mahanadi Coalfields, a unit of Coal India Ltd, has stopped operations at three mines in the eastern state of Odisha following protests by locals over company plans to relocate them to make way for planned mine expansion. More than 100 families are campaigning against the company's plan to shift them about 15 km from their homes around the mines…
India: Greenpeace Endangers Economic Security
India's domestic spy service has accused Greenpeace and other lobby groups of hurting economic progress by campaigning against power projects, mining and genetically modified food, the most serious charge yet against foreign-funded organizations. The leak of the Intelligence Bureau's report comes as Prime Minister Narendra Modi's…
Prompt Physical Prices Fall to Lowest Since 2009
Prompt prices for European physical coal dropped to their lowest since 2009 on Friday, as warmer weather and ample supplies continued to weigh on the market. Cargoes for delivery in June to the European ports of Amsterdam, Rotterdam and Antwerp (ARA) lost 70 cents or 1 percent to $69.00 a tonne on volume of 50,000 tonnes traded, according to the GLOBALcoal trading platform.
India Starts First Coal Mine in Five Years
Coal India Ltd started production on Friday at a 12-million-tonnes-per-year mine, its first major new project in at least five years, which should help boost supplies to fuel-starved power plants. The world's biggest coal miner has struggled to raise output fast enough to meet rising demand from power companies, making India the…
Indian Ports' Coal Import on the Rise
India's major state-owned ports handled 17 percent more imported coal in the fiscal year ended March, according to data from the Indian Ports Association (IPA), as its coastal power firms stepped up generation to meet growing demand. A rush to add power capacity after years of under-investment has forced Indian generators to increase…
