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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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Thursday, 04 January 18
SUPRAMAX: INDO TO CHINA WERE FIXED AT AROUND $8K DAILY; DOWN AROUND 27% WOW
Supramax
Q1 kicked off with an usual standby with all counterparts waiting for the market to take direction. Further holidays in East-Europe adde ...
Wednesday, 03 January 18
KOMIPO TO BUY 130K TONS OF MIN. 5700 NAR COAL FOR FEB 2018 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 130k Metric Tons of min. 5700 NAR coal to be burnt a ...
Friday, 29 December 17
PORT OF NEWCASTLE SHIPPED A$ 1.527 BILLION WORTH OF 12.65 MT OF COAL IN NOVEMBER
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1527.6 M ...
Friday, 29 December 17
U.S WEEKLY COAL PRODUCTION SLIGHTLY UP FOR THE WEEK ENDING 23 DEC, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tons ...
Wednesday, 27 December 17
SULPHUR EMISSIONS: THE OUTSTANDING CHALLENGES - UK P&I CLUB
The International Maritime Organization (IMO) has been working to reduce the harmful impacts of shipping on the environment.
It adopted Annex ...
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Showing 1836 to 1840 news of total 6871 |
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- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Australian Coal Association
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
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