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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, 16 November 17
THE PORT OF NEWCASTLE HAS SHIPPED 14.94 PERCENT LESS COAL IN OCTOBER 2017, DATA SHOWS
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1,466.8 ...
Thursday, 16 November 17
GOVERNMENT, 13 COAL MINERS AGREE TO CHANGE CONTRACTS - JP
The government and 13 coal mining companies have agreed to change the old Contract of Work (CoW), as part of the implementation of Law No. 4/20199 ...
Wednesday, 15 November 17
IEA RECOGNISES COAL'S CONTINUOUS IMPORTANCE TO GLOBAL ENERGY NEEDS - WCA
The World Coal Association (WCA) has welcomed the International Energy Agency’s (IEA) recognition that coal will continue to play a vital rol ...
Wednesday, 15 November 17
THERMAL COAL WAS DRAGGED DOWN BY THE WEAKNESS ACROSS THE WIDER ENERGY SECTOR - DANIEL HYNES
The coal market was mixed.
Thermal coal was dragged down by the weakness across the wider energy sector, said Daniel Hynes Senior Commodi ...
Wednesday, 15 November 17
MARKET INSIGHT - LINOS KOGEVINAS
For another week, oil seems to be the most volatile and interesting commodity to watch. In this segment we’ll look at some of the major facto ...
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Showing 1876 to 1880 news of total 6871 |
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- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- The Treasury - Australian Government
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