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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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Friday, 18 May 18
AFTER COAL, INDONESIAN GOVERNMENT PUSHES DMO ON GAS FOR ELECTRICITY
After introducing its domestic market obligation (DMO) policy for coal on March 12, the government is going forward with its plan to introduce a DM ...
Friday, 18 May 18
INDONESIA'S SAMARINDA ANCHORAGE COAL LOADING ACTIVITIES WERE RESUMED YESTERDAY AT 4PM LOCAL TIME
Samarinda Anchorage coal loading activities were resumed yesterday at 4PM local time.
Local fishermen in Samarinda Anchorage have been demonst ...
Wednesday, 16 May 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Half-way through the second quarter of the year and as the Posidonia week approaches everyone is getting ready for this unique gathering that besid ...
Thursday, 10 May 18
PRIVATE POWER PRODUCERS NEED A 'POWERFUL PUSH' - PRADEEP MITTAL
- PLF of the Private Sector in the country (Coal and Lignite based) for FY 2017-18 (till Dec 2017) is 56%.
- 51 GW of stressed assets (Thermal &a ...
Tuesday, 08 May 18
BUMA SIGNED OVER US$1 BILLION WORTH OF NEW CONTRACT WITH PT INDONESIA PRATAMA
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, has entered into mining services contracts with PT Indones ...
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Showing 1721 to 1725 news of total 6871 |
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- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- White Energy Company Limited
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Planning Commission, India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
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