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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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Thursday, 15 March 18
SUPRAMAX: INDO TO CHINA COAL ROUNDS ARE PAYING IN THE LOW $13K TO S. CHINA AND HIGH $13K TO NORTH IN CHINA
Supramax
More activity from USG , front hauls to Far East have settled around $25000, and to Cont around $20000. Stable gain again in Black Sea w ...
Thursday, 15 March 18
BHEL COMMISSIONS 600 MW THERMAL POWER PLANT FOR APGENCO IN ANDHRA PRADESH
Bharat Heavy Electricals Limited (BHEL) has successfully commissioned a 600 MW coal-based thermal power plant in the state of Andhra Pradesh.
...
Thursday, 15 March 18
SUEK GROUP SECURES $1.055BN 5-YEAR SYNDICATED PRE-EXPORT FINANCE FACILITY
SUEK Group signed a $1.055bn syndicated pre-export loan agreement. The facility with five years duration is secured against the Group’s expor ...
Wednesday, 14 March 18
COAL PRICES UP SAYS MINERALS COUNCIL - IAN KIRKWOOD,THE HERALD
NSW thermal coal exports were at near-record levels last year but prices were up, the Minerals Council of NSW has said after appraising annual stat ...
Wednesday, 14 March 18
NEW COAL PRICE FORMULA DOESN'T APPLY RETROACTIVELY: OFFICIAL - THE JAKARTA GLOBE
The Energy and Mineral Resources Ministry has decided to change the implementation period of the new discounted price formula for coal sold to the ...
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Showing 1771 to 1775 news of total 6871 |
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- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- White Energy Company Limited
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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