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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, 22 December 17
COAL INDIA BOARD CLEARS THE WAY FOR SCHEME FOR HARNESSING AND ALLOCATING KOYALA (COAL) TRANSPARENTLY IN INDIA - PIB
The Coal India Limited (CIL) Board cleared the decks for signing of Fuel Supply Agreement (FSA), for supply of coal.
According to Press Inform ...
Friday, 22 December 17
WILL THE DRY BULK INDUSTRY BECOME PROFITABLE IN 2018? - PETER SAND, BIMCO
As the dry bulk fleet is already expected to grow at a pace that matches demand growth expected in 2019, focus must be on improving the fundamental ...
Friday, 22 December 17
ESTIMATED U.S. WEEKLY COAL OUTPUT SLIPS SLIGHTLY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Thursday, 21 December 17
COAL CONSUMPTION DROPS AS GAS AND RENEWABLES CHEW INTO TRADITIONAL MARKETS - BABS MCHUGH
"The share of coal in the global energy mix is forecast to decline from 27 per cent last year to 26 per cent in 2022"
Global demand ...
Thursday, 21 December 17
FUEL SHORTAGE TRIGGERS JUMP IN COAL PRICES - CHINA DAILY
China’s thermal coal prices jumped recently as natural gas shortages across the north spurred an unexpected resurgence in demand for coal-fir ...
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Showing 1841 to 1845 news of total 6871 |
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- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- CNBM International Corporation - China
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
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