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, 02 July 18
THIESS SECURES NEW QCOAL NORTHERN HUB $480M CONTRACT
Thiess has been awarded a new A$480 million contract by QCoal to continue operations at the QCoal Northern Hub located in Queensland’s Bowen ...
Friday, 29 June 18
THE LBH GROUP AND RHENUS PLAN TO ESTABLISH A JOINT COMPANY
Press Release: The port services provider, the LBH Group, and the logistics specialist Rhenus, are planning to cooperate closely in the European in ...
Friday, 29 June 18
SUPRAMAX: INDO / CHINA COAL ROUNDS PAYING AROUND USD HIGH 11000 - FEARNLYS
Capesize
Its been an interesting week with a strong demand for ships out of Brazil, making C3 rates remain around USD 19 pmt said Fearnlys in i ...
Friday, 29 June 18
JAPAN'S TOHOKU ELEC, GLENCORE ABANDON APRIL-MARCH COAL CONTRACT TALKS - REUTERS
Japan’s Tohoku Electric Power Co Inc and Glencore Plc have abandoned talks on annual thermal coal supplies after failing to reach an agreemen ...
Wednesday, 27 June 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
After the abolishment of the trade embargo against Iran, there was a lot of optimism from the country’s side, as after quite some time a numb ...
|
|
|
Showing 1686 to 1690 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- White Energy Company Limited
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
|
| |
| |
|
