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Thursday, 13 April 17
OPEC OVER-DELIVERS ON OIL CUTS, BUT SEES RIVALS' OUTPUT RISING
 Crude Oil Price Movements
The OPEC Reference Basket averaged $50.32/b in March, representing a decline of 5.7% from the previous month. Crude futures also declined on concerns about growing oil output and high crude inventories in the US. ICE Brent ended 6.2% lower at $52.54/b, while NYMEX WTI decreased 7.1% to $49.67/b. The BrentWTI spread widened to $2.86/b, supporting US crude oil exports. Hedge funds liquidated their large net long positions in crude, contributing to the sharp drop in oil prices.
World Economy
The momentum in global economic growth has been improving resulting in an upward revision in the 2017 forecast to now stand at 3.3% from 3.2% previously, while growth for 2016 remains at 3.0%. OECD growth in 2017 remains at 1.9%, with the US and Euro-zone seeing no revisions. Japan’s 2017 growth forecast was revised up to 1.2% from 1.1% previously. China’s 2017 growth was also revised higher to 6.3% from 6.2%, while India’s forecast remains at 7.0%. Russia’s 2017 growth was revised up to 1.2% from 1.0%, while the forecast for Brazil is unchanged at 0.5%.
World Oil Demand
World oil demand growth in 2016 was kept broadly unchanged at 1.38 mb/d, averaging 95.05 mb/d. For 2017, oil demand growth is anticipated to be around 1.27 mb/d, following an upward revision of 10 mb/d to average 96.32 mb/d. The ‘Other Asia’ group – which includes India – is anticipated to lead oil demand growth in 2017, followed by China and OECD Americas. OECD Asia-Pacific is the only region anticipated to see a decline in oil demand in 2017.
World Oil Supply
Non-OPEC oil supply is estimated to have averaged 57.32 mb/d in 2016, representing a contraction of 0.69 mb/d y-o-y following a minor downward revision of 30 tb/d. In 2017, non-OPEC oil supply is projected to grow by 0.58 mb/d, following an upward revision of 176 tb/d due to higher than expected growth in the US and lesser contractions in Colombia and China, to average 57.89 mb/d. The US supply growth forecast was revised up by 0.20 mb/d to stand at 0.54 mb/d. OPEC NGLs and non-conventional oil production is forecast to grow by 0.13 mb/d in 2017, following growth of 0.14 mb/d in 2016. In March, OPEC production decreased by 153 tb/d, according to secondary sources, to average 31.93 mb/d. Product Markets and
Refining Operations
Product markets exhibited a mixed performance in the Atlantic Basin, as the lack of export opportunities for gasoline amid increasing inflows of middle distillates impacted the European market. Meanwhile, stronger domestic gasoline demand in the US ahead of the transition to summer grades lent strong support to refinery margins. In Asia, the lack of arbitrage amid increasing inflows into the region weighed on the market despite the onset of the spring refinery maintenance season.
Tanker Market
The tanker market showed a mixed pattern in March. VLCCs exhibiting an average decline of 23% m-o-m in spot rates on its various trading routes, as the tonnage availability remained abundant. In contrast, Suezmax and Aframax rates increased m-o-m by 13%, and 6%, respectively, mainly due to transit delays in the Turkish Straits, discharge delays in the east, and occasional tightening in tonnage supply. The market experienced higher monthly freight rates for clean tankers on most reported routes.
Stock Movements
Total OECD commercial oil stocks fell in February to 2,987 mb to now stand 268 mb above the latest five years average. Crude and product stocks indicated a surplus of around 227 mb and 41 mb, respectively. In terms of days of forward cover, OECD commercial stocks stood at 64.2 days, some 4.6 days higher than the latest five-year average Balance of Supply and Demand
Demand for OPEC crude in 2016 now stands at 31.7 mb/d, which is 1.9 mb/d higher than the 2015 level. In 2017, demand for OPEC crude is projected at 32.2 mb/d, around 0.6 mb/d higher than the 2016 level.
Source: OPEC
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Friday, 18 May 18
AFTER COAL, INDONESIAN GOVERNMENT PUSHES DMO ON GAS FOR ELECTRICITY
After introducing its domestic market obligation (DMO) policy for coal on March 12, the government is going forward with its plan to introduce a DM ...
Friday, 18 May 18
INDONESIA'S SAMARINDA ANCHORAGE COAL LOADING ACTIVITIES WERE RESUMED YESTERDAY AT 4PM LOCAL TIME
Samarinda Anchorage coal loading activities were resumed yesterday at 4PM local time.
Local fishermen in Samarinda Anchorage have been demonst ...
Wednesday, 16 May 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Half-way through the second quarter of the year and as the Posidonia week approaches everyone is getting ready for this unique gathering that besid ...
Thursday, 10 May 18
PRIVATE POWER PRODUCERS NEED A 'POWERFUL PUSH' - PRADEEP MITTAL
- PLF of the Private Sector in the country (Coal and Lignite based) for FY 2017-18 (till Dec 2017) is 56%.
- 51 GW of stressed assets (Thermal &a ...
Tuesday, 08 May 18
BUMA SIGNED OVER US$1 BILLION WORTH OF NEW CONTRACT WITH PT INDONESIA PRATAMA
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, has entered into mining services contracts with PT Indones ...
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Showing 1721 to 1725 news of total 6871 |
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- The University of Queensland
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
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