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Thursday, 26 December 19
REVIEW OF 2019 AND OUTLOOK FOR 2020 - OPEC
 Global economic growth slowed in 2019, impacted by a variety of challenges. Trade issues not only led to reduction in global final consumption but also caused investment growth to decelerate. On the positive side, global trade slowdown has likely bottomed out, and now the negative trend in industrial production seen in 2019 is expected to reverse in 2020. As a result, global economic growth is forecast at 3.0% for both 2019 and 2020.
Recent progress on various trade agreements such as the conclusion of the Regional Comprehensive Economic Partnership of Asian-Pacific nations may provide the base to re-energize the momentum in global trade, although challenges remain, particularly regarding ongoing trade talks between the US and its trade partners, particularly China.
While global monetary policies continue to be accommodative, high debt levels in many major economies represent some risk. Additional challenges are posed by fiscal issues in few EU Member Countries, Brexit, and Japan’s ongoing slowdown. Fiscal imbalances in emerging and developing economies may also have a negative effect on global economic growth, while recent social unrest in some economies may add more downward pressure.
Global oil demand is projected to rise by 0.98 mb/d in 2019, mainly due to cooling macro-economic indicators in major economies. Oil demand in the OECD is projected to grow by a marginal 0.02 mb/d in 2019, due to slowerthan-expected demand in the Americas and Asia Pacific. Weaker-than-expected diesel requirements in the US amid the slower pace in manufacturing and construction activity have limited demand growth in the current year. In Asia Pacific, significant petrochemical plant turnarounds reduced demand for petrochemical feedstock in 1H19. In non-OECD oil demand in 2019 is anticipated to rise by 0.96 mb/d, primarily as a result of slower-than-expected demand in India due to reduced industrial and transportation fuel requirements in 2Q19 and 3Q19. In 2020, global oil demand is expected to grow by 1.08 mb/d, with the OECD growing by 0.07 mb/d. OECD Americas is anticipated to be the only OECD region in positive demand growth territory next year, supported mainly by petrochemical capacity additions. In the non-OECD region, oil demand growth is projected to be around 1.01 mb/d, with growth projected to improve in Other Asia, Latin America and the Middle East. Indeed, the transportation and petrochemical sectors are expected to continue leading oil demand growth in 2020.
On the supply side, non-OPEC oil supply growth in 2019 has been lower than initial market expectations, now standing at 1.82 mb/d compared to the initial projection of 2.10 mb/d in July 2018. Weaker-thanexpected growth in Canada, Brazil, Norway, Kazakhstan, China and Russia has been the key contributor to the downward revision, despite the betterthan-expected performance of US liquids supply. US oil output is leading this growth with 1.62 mb/d in 2019. In 2020, non-OPEC supply is expected to see a continued slowdown in growth on the back of decreased investment and lower drilling activities in US tight oil. Non-OPEC supply is now forecast to grow by 2.17 mb/d in 2020, representing a downward revision of around 0.27 mb/d from initial forecasts in July 2019 on the back of downward revisions in US oil supply. Nevertheless, Graph 2: World oil demand and non-OPEC supply revisions from initial forecast in 2019 and 2020 incremental production from the US tight plays, particularly in the Permian Basin, as well as from offshore fields in Norway, Brazil, Australia and possibly Guyana, will contribute to the non-OPEC supply in 2020.
Evidently, significant and successful effort of countries participating in the Declaration of Cooperation (DoC) have helped the global oil market to remain relatively balanced in 2019. Going forward, countries participating in the DoC reaffirmed their continuing commitment to oil market stability as they have decided this month to adjust production further by another 500 tb/d, adding to the previous adjustment of 1.2 mb/d, and now totalling to 1.7 mb/d as of January 2020. This is to stabilize the market in the interests of both consumers and producers, as well as the wellbeing of the global economy.
Source: OPEC
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Wednesday, 10 April 19
KOSPO INVITED BIDS FOR 160K MT OF MIN. 3700 NCV COAL FOR JUNE LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 160,000 MT of min. 3,800 Kcal/kg ~max.4,100 ...
Wednesday, 10 April 19
CHINA'S GROWING THERMAL COAL SUPPLY TO PRESSURE EXPORTERS - FITCH RATINGS
Growing Chinese thermal coal supply is likely to lead to further tightening of import controls by the government, putting pressure on seaborne coal ...
Wednesday, 10 April 19
SHIPPING MARKET INSIGHT - INTERMODAL
The tragedy in Brazil’s Vale Brumadinho where a tailings dam collapsed in January ranks among the world’s worst mining disasters. It co ...
Monday, 08 April 19
5TH INDIA NUCLEAR NEW BUILD CONGRESS 2019
5th India Nuclear New Build Congress 2019
The congress in Mumbai aims to bring together representatives from governments, regulators ...
Monday, 08 April 19
THERMAL COAL PRICES FALL, INDIAN POWER PLANTS TO SEE LIMITED GAINS - BUSINESS STANDARD
Thermal coal prices are on a downward spiral globally. Australian coal prices have fallen nearly 20 per cent in the past week, and 40 per cent from ...
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- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Australian Coal Association
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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