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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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Tuesday, 26 June 18
"ALWAYS ACCESSIBLE": ARRIVAL, DEPARTURE OR BOTH? - INCE & CO
KNOWLEDGE TO ELEVATE
An “always accessible” berth warranty is often used by an owner to transfer the risk of delays in berthing to ...
Tuesday, 26 June 18
A SHARP RISE IN THE PRICE OF CRUDE OIL WAS TO BE SEEN ON FRIDAY, ITS BIGGEST DAILY GAIN IN TWO YEARS - GEORGE LAZARIDIS
A sharp rise in the price of crude oil was to be seen on Friday, its biggest daily gain in two years, as OPEC reached a deal to raise output. Despi ...
Monday, 25 June 18
AUSTRALIA'S NEWCASTLE PORT SHIPPED 12.179 MT OF COAL IN MAY; DOWN 14.77% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU1,453.6 Mi ...
Monday, 25 June 18
COAL IN THE CROSSFIRE: CHINESE TRADERS WARY OF BEING BURNT BY TRADE WAR - REUTERS
At least three U.S. coal shipments on their way to China may end up casualties of the escalating trade dispute after Beijing said it would impose s ...
Saturday, 23 June 18
COAL GROUP TARGETS 9 PER CENT REVENUE SPIKE - VIET NAM NEWS
Viet Nam News reported, the Viet Nam National Coal and Mineral Industries Group (Vinacomin or TKV) is targeting VNĐ116.9 trillion (US$5.1 billion) ...
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- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Planning Commission, India
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- The University of Queensland
- MS Steel International - UAE
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
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