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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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Wednesday, 21 February 18
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
2017 proved to be a relatively good year with positive margins for the Dry Bulk market. Especially during the last quarter of the year everyone can ...
Tuesday, 20 February 18
INDIA: COAL IMPORT RISES BY 12 PER CENT TO 18 MILLION TONNES IN JANUARY - PTI
The country’s coal import increased by 12.4 per cent to 18.49 million tonnes (MT) in January, against 16.
44 MT in the same month of the ...
Monday, 19 February 18
JOINT INSURANCE - WHY SHOULD YOU CARE? - SKULD
KNOWLEDGE TO ELEVATE
It is neither controversial nor new to say that co-assureds under a joint insurance policy cannot claim against each othe ...
Friday, 16 February 18
U.S. WEEKLY COAL OUTPUT DOWN 4.5 PER CENT WEEK OVER WEEK, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Thursday, 15 February 18
INDIA: THERMAL POWER PLANTS UNDER STRESS ON RISING COAL, FREIGHT COSTS - BUSINESS STANDARD
Coal-based power plants are feeling the heat of spike in thermal grade coal prices and railway freight costs.
Prices of thermal grade coal sin ...
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Showing 1801 to 1805 news of total 6871 |
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- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
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