Investment in exploration is almost non-existent. Meanwhile, all the discovered deposits will be depleted in time. |
Producers are going to be supplying more to the domestic market, where demand is surging because three new power plants are starting up this year. Local consumption may reach 35 percent of total output next year compared with 30 percent this year. |
The tax will reduce our competitiveness against producers such as Australia, South Africa and newcomers such as Vietnam. It will add further to our costs after a sharp rise in fuel prices. |
When crude oil is above $26 a barrel, it makes economic sense to convert coal. |