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