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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
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Wednesday, 05 September 18
ASIAN DEMAND COULD CREATE DEFICIT IN GLOBAL LNG MARKET - FITCH RATINGS
Growing gas demand from Asia, particularly from China, could swing the liquefied natural gas (LNG) market into a deficit by 2022-2025, Fitch Rating ...
Tuesday, 04 September 18
SUPRAMAX: THE ASIAN SECTOR REMAINED ACTIVE WITH RATES STILL FIRM ESPECIALLY IN SE ASIA - BALTIC BRIEFING
Capesize
A turnaround in fortunes for the big ships, with a few slower days in the market. A build-up of tonnage and a lack of Brazil cargoes r ...
Thursday, 30 August 18
SUPRAMAX: CIS COAL TO FAR EAST WENT AT MID TENS AND TO SE ASIA AT CA USD 8000 - FEARNLEYS
Capesize
There was a slow start this week with holiday in UK on Monday. The index has been slowly coming off since then; The C5 route has seen ...
Wednesday, 29 August 18
MID-YEAR FY19 POWER OUTLOOK: IMPORTED COAL REQUIREMENT TO INCREASE DURING REMAINING FY19: IND-RA
India Ratings and Research (Ind-Ra) has maintained a stable-to-negative outlook on the Indian power sector for the remaining FY19, despite a rise i ...
Wednesday, 29 August 18
IMPACT ON CHARTERPARTIES - TIME TO ACT NOW : NORTH P&I CLUB
KNOWLEDGE TO ELEVATE
The challenges introduced by the global sulphur cap are not exclusively technical. The new limits are likely to impact co ...
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Showing 1631 to 1635 news of total 6871 |
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- PTC India Limited - India
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- The University of Queensland
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Australian Coal Association
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
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