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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, 05 June 18
SOUTH KOREA'S SULPHUR CAP ALTERS ASIAN COAL MARKET DYNAMICS: RUSSELL
South Korea’s imposition of a strict sulphur cap on its imported coal is likely to cause ripples across Asia’s markets for the pollutin ...
Tuesday, 05 June 18
THINGS STILL LOOK TO BE PROMISING FOR THE DRY BULK MARKET OVER THE NEXT COUPLE OF MONTHS - GEORGE LAZARIDIS
Just as we thought the world was calming back down to reason, worries and frictions regarding global trade resurfaced this past week after a series ...
Tuesday, 05 June 18
INDONESIAN COAL PRICE REFERENCE IS GOING UP AGAIN
COALspot.com: According to latest ministerial decree No. 1857 K/30/MEM/2018 dated 4 June 2018, the Indonesian Coal Price Reference (HBA) up 7.91 pe ...
Saturday, 02 June 18
HOW CARBON UTILISATION WILL BE A KEY STEP IN INDIA'S CLIMATE STRATEGY - BENJAMIN SPORTON
For India, energy remains the key driver of growth, not only from an economic perspective but more importantly for accelerating social development. ...
Thursday, 31 May 18
SUPRAMAX: INDO/CHINA COAL RV IS GETTING FIXED AROUND $13K DELIVERY SINGAPORE - FEARNLEYS
Capesize
The Cape market has been on a downward trend for the past week.
According to Fearnleys, Oslo based broker, Brazil market ...
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Showing 1706 to 1710 news of total 6871 |
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- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
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