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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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Tuesday, 06 February 18
THE FUNDAMENTALS FOR INDIAN COAL IMPORTS CONTINUE TO LOOK PROMISING - TORVALD KLAVENESS
Back in August we reported that the fundamentals impacting Indian coal imports looked more promising.
Trade flow data today implies 17.4Mt of ...
Monday, 05 February 18
SUPRAMAX : INDONESIA TO INDIA PASSING THROUGH SINGAPORE HAS SOFTENED
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has softened, week over week, own ...
Friday, 02 February 18
SUPRAMAX : INDONESIA TO CHINA COAL TRIPS ARE PAYING AROUND MID USD 9000 - FEARNLEYS
Supramax
Rather quiet week within Atl, specially Continent due to lack of cargoes.
According to Fearnleys Weekly - Dry bulk report published ...
Friday, 02 February 18
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 54.1 MMST, DOWN 8.8% YOY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tons ...
Thursday, 01 February 18
RISING US OIL EXPORTS, MARKET DISRUPTION, BRENT-WTI SPREAD - WOOD MACKENZIE
What will US tight oil growth do to crude markets? The build-up in volumes early this decade led to a supply glut that undermined prices in 2014.
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Showing 1816 to 1820 news of total 6871 |
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- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
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