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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 February 18
COAL BUYERS SPOOKED BY INDONESIA'S NEW SHIPPING RULES - ASSOC
Buyers of Indonesian coal are holding back orders of the fuel after the government issued new shipping rules for coal and crude palm oil that would ...
Thursday, 08 February 18
ENHANCED PRODUCTION BY COAL INDIA LIMITED HELPS DECLINE IN COAL IMPORTS - UNION MINISTER OF RAILWAYS AND COAL
According to press release from PIB, as per the current import policy, coal is kept under Open General License (OGL) and consumers are free to impo ...
Thursday, 08 February 18
A NEW WEEK WITH A SOFT SENTIMENT AND DECREASING RATES IN BOTH HEMISPHERE FOR THE PANAMAXES, SAYS FEARNLEYS
Supramax
USG dropping remarkably due to lack of fresh enquiry both for fhaul and bhaul, Supras were fixed from USG to Spore-Japan range now aroun ...
Wednesday, 07 February 18
INDONESIAN COAL PRICE REFERENCE RISES TO HIT THIRTEEN-MONTH HIGH OF $100.69 A TON
COALspot.com: The Indonesian Coal Price Reference (HBA) rose 5.39 per cent in February 2018, the latest ministerial decree showed.
The benchma ...
Wednesday, 07 February 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
Crude oil supply has been reported to have grown by approx. 2.5% reaching 40.1m bpd in 2017. However, tanker charter rates have been under pressure ...
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Showing 1811 to 1815 news of total 6871 |
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- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Planning Commission, India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
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