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