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Tuesday, 23 January 18
OIL MARKET ANALYSIS - ALLIED
 Brent oil futures hit a three year high on January 16th touching around USD 70.30 before falling back down to around USD 68.60 at the Time of this publication, the former figure being the highest it has seen since December 2014.
According to Allied's Research Analyst Gerry Lathrop, this has been in part due to the weakened US dollar, a massive decrease in the total global crude storage, as well as the highest rate of OPEC conformity to their oil production cuts, which was announced this past week in the Joint Ministerial Monitoring Committee (JMMC), in Muscat, Oman. The committee is made up of OPEC and non-OPEC member states, and although its primary goal was not to discuss further production cuts, the question was on the table as to whether they would continue their plan through to 2019.
The answer to that is very much like a social media relationship status, “Its Complicated”. As previously mentioned, oil prices are hovering around a 3-year high, having increased by at least 10% since OPEC’s last meeting in Vienna this past November, and more than 50% from 6 months ago.
On the supply side, Gerry Lathrop said, the number of US oil rigs in 2017 and 2018 reached a new high, surpassing the number of rigs operating in 2016, and leading to a 16% rise in US oil production which peaked at around 9.75m b/d. The International Energy Agency on Friday raised its forecast for US production growth to 1.35m b/d for this year, making up by far the biggest chunk of supply growth outside of OPEC countries. The IEA then went on to say, US crude production is on course to overtake Saudi Arabia and rival Russia, as it made an upward revision on its 2018 growth forecast and stressed that “explosive” expansion in shale was offsetting OPEC-led supply cuts. The IEA, which is the latest body to raise US estimates, following the US energy department’s statistics arm and OPEC’s own research unit, has said: “This year promises to be a record-setting one for the US.”US growth of nearly 1.4m barrels a day, to a record 10.4m b/d, will help propel non-OPEC supply by 1.7m barrels a day in 2018 (Total output from outside the cartel is forecast to reach 59.8m b/d), dwarfing the level of supply cuts in OPEC crude output.
Gerry Lathrop further commented, but it's not all smooth sailing for people in the downstream oil market, the recent OPEC-led rally in crude prices is hitting refinery profits hard, flashing warning signs over oil’s Bull Run. Higher oil prices typically quench consumption and squeeze profit margins at refiners that convert the feedstock into products. Benchmark profit margins in key refining hubs dropped sharply in recent weeks - by over 50% in the U.S. Gulf Coast and northwest Europe, Reuter's data shows - increasing expectations that some refiners will reduce operating rates. However, a wave of refinery maintenance scheduled in spring could eventually put a downward pressure on crude itself. According to the IMF’s most recent upward revisions on its estimates for global economic growth, we are currently witnessing some of the strongest growth figures in years and these (relatively) low oil prices could well boost global oil consumption by a further 1.3m b/d this year, a number the IEA acknowledges is “conservative” compared with other forecasts. Others have predicted demand growth could approach 2m b/d this year, more than double the rate of 2011-2014. Given the above, 2018 could well prove to be the turning point in the tanker market that all of us have been hoping for or at least the spark that sets it in motion.
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Thursday, 15 March 18
SUPRAMAX: INDO TO CHINA COAL ROUNDS ARE PAYING IN THE LOW $13K TO S. CHINA AND HIGH $13K TO NORTH IN CHINA
Supramax
More activity from USG , front hauls to Far East have settled around $25000, and to Cont around $20000. Stable gain again in Black Sea w ...
Thursday, 15 March 18
BHEL COMMISSIONS 600 MW THERMAL POWER PLANT FOR APGENCO IN ANDHRA PRADESH
Bharat Heavy Electricals Limited (BHEL) has successfully commissioned a 600 MW coal-based thermal power plant in the state of Andhra Pradesh.
...
Thursday, 15 March 18
SUEK GROUP SECURES $1.055BN 5-YEAR SYNDICATED PRE-EXPORT FINANCE FACILITY
SUEK Group signed a $1.055bn syndicated pre-export loan agreement. The facility with five years duration is secured against the Group’s expor ...
Wednesday, 14 March 18
COAL PRICES UP SAYS MINERALS COUNCIL - IAN KIRKWOOD,THE HERALD
NSW thermal coal exports were at near-record levels last year but prices were up, the Minerals Council of NSW has said after appraising annual stat ...
Wednesday, 14 March 18
NEW COAL PRICE FORMULA DOESN'T APPLY RETROACTIVELY: OFFICIAL - THE JAKARTA GLOBE
The Energy and Mineral Resources Ministry has decided to change the implementation period of the new discounted price formula for coal sold to the ...
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Showing 1771 to 1775 news of total 6871 |
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- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- The University of Queensland
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
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