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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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Friday, 08 April 16
COASTAL ENERGEN CROSSES GENERATION OF 1068 MW AND EXPORT OF 1004 MW FROM ITS 1200 MW IPP
COALspot.com: Coal & Oil (C&O) Group, an India centric Energy & Infrastructure company announced that their Coastal Energen' ...
Friday, 08 April 16
WEEKLY US COAL PRODUCTION ESTIMATES DIP 5.4% TO 11 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11 million short ...
Friday, 08 April 16
MINISTER OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO ISSUE REGULATION TO GUARANTEE THE COAL SUPPLY TO ITS 35K POWER PLANT PROJECTS
COALspot.com: In order to guarantee the supply of coal for 35,000 megawatt (mw) coal based power plants ( still in planning stage), the Minister of ...
Thursday, 07 April 16
CHINA STEEL CAPACITY CUTS FACE SOCIAL, FINANCIAL HURDLES - FITCH RATINGS
Fitch Ratings says today that the Chinese government's supply-side reform of the steel sector faces immense social and financial challenges. Th ...
Thursday, 07 April 16
PANAMAX RATES ARE FIRMING IN BOTH HEMISHEPHERES - FEARNLEYS
Capesize
With a great volume our of west Australia, rates were finally moving to upper 3's. and stabilizing towards the middle of the week in ...
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- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- The University of Queensland
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
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