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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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- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
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