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Monday, 16 May 16
OPEC SEES RIVAL OIL PRODUCTION DECLINING
 Crude Oil Price Movements
The OPEC Reference Basket averaged $37.86/b in April, a gain of $3.21 or 9.3%. This was 40% higher than the lows reached in the beginning of the year, buoyed by expectations for an improving market situation, despite the current persistent oversupply. Oil futures surged more than 8%, with ICE Brent up $3.55 to average $43.34/b, while Nymex WTI rose $3.16 to $41.12/b.
World Economy
World economic growth is forecast at 3.1% in 2016, after estimated growth of 2.9% last year, both unchanged from the previous month. OECD growth in 2016 remains at 1.9%, slightly below the 2.0% seen in 2015. In the emerging economies, India and China continue to expand this year at a considerable level of 7.5% and 6.5%, respectively, with China having been revised up by 0.2 pp after a better-than-expected 1Q16. Brazil and Russia, however, are forecast to remain in recession this year, contracting by 3.4% and 1.1% respectively, with Brazil having been revised down by 0.5 pp.
World Oil Demand
World oil demand in 2015 grew by around 1.54 mb/d, unchanged from last month’s report. Total oil consumption averaged 92.98 mb/d. In 2016, world oil demand is projected to rise by 1.20 mb/d to reach 94.18 mb/d, unchanged from last month’s projections, despite upward revisions to Other Asia, which were counterbalanced by downward revisions to Latin America and China.
World Oil Supply
Non-OPEC oil supply growth for 2015 has been revised up slightly to 1.47 mb/d for an average of 57.14 mb/d. For 2016, non-OPEC oil supply was adjusted lower to average 56.40 mb/d, contracting by 0.74 mb/d. The estimate for OPEC NGLs and non-conventional oils in 2015 has been revised down by 20 tb/d based on direct communication to show a rise of 0.13 mb/d to average 6.13 mb/d. Growth in 2016 has also been adjusted lower to 0.16 mb/d to average 6.29 mb/d. In April, OPEC crude oil production rose 188 tb/d to average 32.44 mb/d, according to secondary sources.
Product Markets and Refining Operations
Product markets in the US were supported by strong domestic gasoline demand amid tightening sentiment due to some outages and maintenance. In Europe, higher export opportunities for gasoline ahead of the driving season lent support to refinery margins. Meanwhile, Asian margins weakened despite peaking refinery maintenance in the region as the oversupply in middle distillates weighed on product markets.
Tanker Market
Dirty tanker spot freight rates declined on the back of lower VLCC and Aframax freight rates as tonnage availability grew while market activity remains limited. Suezmax spot freight rates improved in April supported by strong sentiment for several destinations combined with an occasionally tight position list. In the clean tanker market, West of Suez activities supported freight rates, while East of Suez rates remained weak.
Stock Movements
OECD commercial oil stocks fell in March to stand at 3,049 mb. At this level, OECD commercial oil stocks are around 361 mb above the latest five-year average. Crude inventories showed a lower surplus of 215 mb, while products were broadly flat at 146 mb. In terms of forward cover, OECD commercial stocks stood at 66.8 days, some 7.5 days higher than the latest five-year average. Balance of Supply and Demand Demand for OPEC crude in 2015 is estimated to average 29.7 mb/d, unchanged from the previous month and 0.1 mb/d lower than the previous year. In 2016, demand for OPEC crude is projected at 31.5 mb/d, unchanged from the previous report and 1.8 mb/d higher than last year.
Source: OPEC
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Tuesday, 26 April 16
INDONESIA BANNED COAL EXPORTS TO PHILIPPINES BY BARGES DUE TO SECURITY CONCERN
COALspot.com: The Ministry of Energy and Mineral Resources (ESDM) on behalf of the government of Indonesia has Freeze coal exports by barges to Phi ...
Tuesday, 26 April 16
NEWBUILDING DEMAND DOWN EVERYWHERE? - CLARKSONS
Newbuild activity provides one indication of an owner country’s likely future fleet growth, though secondhand sale and purchase and demolitio ...
Monday, 25 April 16
CHINESE STEEL PRICE SURGE NOT SUSTAINABLE - FITCH
The rapid increase in Chinese steel prices so far this year is not sustainable, as it is largely due to a seasonal pick-up in construction and elev ...
Monday, 25 April 16
WEEKLY CS (I) COAL INDICES END ALMOST FLAT
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.05 percent week over week to averaging $38.67 per ton on this past Friday, acco ...
Monday, 25 April 16
BALTIC DRY INDEX ENDS WEEK ON A POSITIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
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Showing 2461 to 2465 news of total 6871 |
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- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
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