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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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Tuesday, 27 February 18
SHELL SEES POTENTIAL LNG SUPPLY SHORTAGE AS GLOBAL DEMAND SURGES
Media Release: The global liquefied natural gas (LNG) market has continued to defy expectations of many market observers, with demand growing by 29 ...
Saturday, 24 February 18
CHINA BECOMES WORLD'S SECOND LARGEST LNG IMPORTER, BEHIND JAPAN - EIA
China surpassed South Korea to become the world’s second-largest importer of liquefied natural gas (LNG) in 2017, according to data from IHS ...
Friday, 23 February 18
ESTIMATED U.S. WEEKLY COAL PRODUCTION UP 2.8 PER CENT W/E 17 FEB' 18 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.6 million short tons ...
Thursday, 22 February 18
WHY THE COMMODITY RALLY WILL GET BACK ON TRACK - SIMON FLOWERS
Implications for the US dollar and producers
Are we in the early stages of a sustained rise in commodity prices? And what does it mean for the ...
Thursday, 22 February 18
PANAMAX: IT HAS BEEN A SLOW AND UNEVENTFUL WEEK - FEARNLEYS
Supramax
Slight improvement from Atlantic with more hope for upcoming weeks. More grain cargoes from Black Sea made fhaul rates better again $17- ...
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Showing 1796 to 1800 news of total 6871 |
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- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Parliament of New Zealand
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- PTC India Limited - India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- GMR Energy Limited - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
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