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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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Thursday, 03 March 16
RIO TINTO COMPLETES SALE OF INTEREST IN BENGALLA JOINT VENTURE FOR US$616.7 MILLION
COALspot.com: Rio Tinto has completed the sale of its 40 per cent interest in the Bengalla coal Joint Venture in Australia to New Hope Corporation ...
Wednesday, 02 March 16
RE-EVALUATION OF MINING LICENSES CLEAN AND CLEAR STATUS IN INDONESIA
COALspot.com: In connection with the transfer of mining authority from Regents/Mayors to Governors1 and from Regents/Mayors and Governors to t ...
Wednesday, 02 March 16
OIL MY GOD.....!!!!
OIL my GOD….!!!!
The oil price “crash” that started in 2014 was caused by a glut of practically unwanted oil. Producers had be ...
Tuesday, 01 March 16
CS 42 (4200 GAR) COAL INDEX CLOSED AT US$ 27.11 A TON ON 26 FEBRUARY
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.31 percent week over week to averaging $38.77 per ton on this past Friday, ...
Tuesday, 01 March 16
CAN BULKCARRIER SUPPLY CUTS RESTORE SOME BALANCE? - CLARKSONS
The easing in bulkcarrier deliveries and the accelerated pace of demolition in recent years has seen bulkcarrier fleet growth slow from a rapid 17% ...
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- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Minerals Council of Australia
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- The University of Queensland
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Marubeni Corporation - India
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
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