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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, 09 March 18
THE WORLD CANNOT KEEP IGNORING THE ASIAN COAL STORY - BENJAMIN SPORTON
There were significant changes in the global energy system in 2017, including the growth in electric vehicles, the rise of renewables and the conti ...
Friday, 09 March 18
U.S. EXPORTED 97 MMST OF COAL IN 2017, A 61 PER CENT INCREASE FROM 2016 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.1 million short tons ...
Thursday, 08 March 18
BUMA SIGNED OVER US$ 500 MILLION WORTH OF NEW CONTRACT WITH PT TANAH BUMBU RESOURCES
PT Delta Dunia Makmur Tbk., announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into mining services ...
Thursday, 08 March 18
THE ENERGY CONTRIBUTION FROM COAL-BASED POWER PLANTS IS LIKELY TO INCREASE TO 1072 BU BY 2021-22 : PIB
Government of India has set an ambitious target of 175 GW from Renewable energy sources (RES) by 2022, which comprises of 100 GW Solar, 60GW from W ...
Thursday, 08 March 18
SUPRAMAX: THE MARKET IS STILL GOING STRONG IN THE PACIFIC - FEARNLEYS
Supramax
The market is still going strong in the Pacific, with Ultra fixing high US$ 13000+375000 bb for South Africa to ECI while nickel ore run ...
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Showing 1781 to 1785 news of total 6871 |
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- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
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