We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 14 February 18
HISTORY REPEATING ITSELF? - IEA
 This month’s OMR is abbreviated to allow time for us to complete our annual five-year outlook that will be published in our report Oil 2018 on 5 March. Meanwhile, new and revised data shows a modest tightening of the balance in the early part of 2018, but the main message remains unchanged from last month and it is very clear: in 2018, fast rising production in non-OPEC countries, led by the US, is likely to grow by more than demand. For now, the upward momentum that drove the price of Brent crude oil to $70/bbl has stalled; partly due to investors taking profits, but also as part of the corrections we have seen recently in many markets. Most importantly, the underlying oil market fundamentals in the early part of 2018 look less supportive for prices.
Our demand growth estimate for 2017 remains strong at 1.6 mb/d, reinforced by November data for the US. For 2018, the more positive global economic picture published by the International Monetary Fund is a key factor in raising our growth outlook to 1.4 mb/d. It was thought that the significant increase in the dollar price of crude oil since the middle of 2017 would dampen growth, and this might be the case to some extent, but the impact of higher prices has been partly offset in some countries by currency appreciations.
It is clear that strong demand growth in 2017, alongside a modest increase last year in non-OPEC output, and the cuts made by leading producers, has contributed to the extraordinarily rapid fall in OECD oil stocks. A year ago, they were 264 mb above the five-year average and now they are only 52 mb in excess of it, with stocks of oil products actually below the benchmark. Although the OECD is not the whole world, the leading oil producers who agreed to cut output identified the level of the group’s stocks as an indicator of the progress of their initiative. With the surplus having shrunk so dramatically, the success of the output agreement might be close to hand. This, however, is not necessarily the case: oil price rises have come to a halt and gone into reverse, and, according to our supply/demand balance, so might the decline in oil stocks, at least in the early part of this year.
The main factor is US oil production. In just three months to November, crude output increased by a colossal 846 kb/d, and will soon overtake that of Saudi Arabia. By the end of this year, it might also overtake Russia to become the global leader. All the indicators that suggest continued fast growth in the US are in perfect alignment; rising prices leading, after a few months, to more drilling, more completions, more production, and more hedging. In early 2018, the situation is reminiscent of the first wave of US shale growth that, riding the tide of high oil prices in the early years of this decade, made big gains in terms of market share and eventually in 2014 forced a historic change of policy by leading producers. Today, having cut costs dramatically, US producers are enjoying a second wave of growth so extraordinary that in 2018 their increase in liquids production could equal global demand growth. This is a sobering thought for other producers currently sitting on shut-in production capacity and facing a renewed challenge to their market share. Another sobering thought is that it is not just a matter of production: trade patterns are changing. Recently we read of a shipment of condensate from the US to the UAE. Such a development would have seemed incredible a few years ago, now it looks like the shape of things to come.
The components of the oil market balance are dynamic and a lot can change in the next few months: the deteriorating situation in Venezuela is one obvious candidate, and the apparent buoyancy of the global economy could deliver higher demand growth than we currently anticipate. As a result, prices could be maintained at recent levels even as US production rises. If so, most producers will be happy, but if not, history might be repeating itself.
Source: IEA
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 17 September 18
GLENCORE RETURNS TO JAPAN COAL TALKS SCUPPERED BY HIGH PRICES - BLOOMBERG
Mining giant Glencore Plc and Japanese utilities have resumed thermal coal supply negotiations, restarting talks that fell apart earlier this year ...
Monday, 17 September 18
SMALL PERCENTAGE OF THE WORLD FLEET WILL FIT SCRUBBERS - FORECASTS : METTE KRONHOLM FRAENDE
In recent months, there have been numerous reports of a strong pick-up in demand for scrubbers. On 1 January 2020, however, the number of ships fit ...
Saturday, 15 September 18
POWERING SUSTAINABLE DEVELOPMENT WITH LOW EMISSION COAL TECHNOLOGIES - WCA
In its 5th Strategic Energy Plan this year (2018), the Japanese Cabinet recognised coal as an important energy resource, necessary for the country& ...
Friday, 14 September 18
10 YEARS ON FROM LEHMAN, HOW IS SHIPPING'S "HANGOVER"? - CLARKSONS RESEARCH
On 15th September 2008, the collapse of Lehman Brothers crystallised the financial crisis and the onset the worst economic downturn for a century. ...
Thursday, 13 September 18
OPEC SEES SLOWER 2019 OIL DEMAND GROWTH, WARNS ON ECONOMY
Crude Oil Price Movements
In August, the OPEC Reference Basket declined by $1.01 m-o-m, settling at $72.26/b. Crude oil futures were also down ...
|
|
|
Showing 1616 to 1620 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
|
| |
| |
|
