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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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Monday, 28 May 18
KOMIPO ISSUED ANOTHER TENDER FOR 130K MT OF 5700 NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 130,000 mt of min. 5700 NAR coal of Australian origi ...
Thursday, 24 May 18
SUPRAS FIXING AROUND USD 15000 FOR INDO TO CHINA COAL TRIPS - FEARNLEYS
Capesize
Both the physical and the paper market have dropped sharply the last couple of days on the back of a lack of fresh cargoes and a growing ...
Thursday, 24 May 18
FITCH: FALLING COAL INVESTMENT TO SUPPORT ASIAN PRICES
Press Release: The long-term outlook for the Asian thermal coal prices is improving, amid rising regional demand and falling mining investment, whi ...
Thursday, 24 May 18
BEIJING ORDERS UTILITIES, MINERS TO HELP COOL RED-HOT COAL MARKET: SOURCES - REUTERS
China’s state planner ordered utilities this week to stop stockpiling thermal coal and told miners to slash prices, two sources familiar with ...
Wednesday, 23 May 18
TANKER MARKET INSIGHT - TIMOS PAPADIMITRIOU
In the last six months we have seen more than 110 reported tanker transactions involving tonnage larger than 32k dwt and younger than 18 years old. ...
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Showing 1716 to 1720 news of total 6871 |
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- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Planning Commission, India
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
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