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