We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 31 January 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
Days before the celebrations of the Lunar New Year, the dry bulk market seems to be holding well, against negative predictions. Period numbers repo ...
Monday, 29 January 18
BALTIC INDEX GAINS ON STRONGER BIG VESSEL ACTIVITY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week and ending on a positive note week ov ...
Monday, 29 January 18
U.S.WEEKLY COAL OUTPUT UP 8.7% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.6 million short tons ...
Wednesday, 24 January 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Since the beginning of the New Year we have been witnessing the BDI correcting downwards, which nonetheless seems to have no effect at ...
Tuesday, 23 January 18
OIL MARKET ANALYSIS - ALLIED
Brent oil futures hit a three year high on January 16th touching around USD 70.30 before falling back down to around USD 68.60 at the Time of this ...
|
|
|
Showing 1821 to 1825 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
|
| |
| |
|
