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.
|
|
Tuesday, 07 November 17
DRY BULK SHIPPING: TAKE GOOD CARE OF THE RECOVERY SAYS PETER SAND
Demand:
Even without much support from Brazilian iron ore exports during August, capesize rates went from $10,000 to $17,000 per day. In Septembe ...
Tuesday, 07 November 17
COAL MARKETS WERE RELATIVELY BUOYANT - DANIEL HYNES
Coal markets were relatively buoyant. Metallurgical coal prices were supported by the stronger steel and iron ore prices, says Daniel Hynes, Senior ...
Tuesday, 07 November 17
PROSPERITY AND WINTER WARMTH REMAIN PARAMOUNT IN CHINA - JEFFREY LANDSBERG
Chinese officials announced recently that 580 gigawatts of coal-derived electricity generation capacity has completed ultra-low emissions reform as ...
Monday, 06 November 17
COAL SHORTAGE HURTS INDIA'S HINDALCO AND VEDANTA SAYS BUSINESS STANDARD
Aluminium smelter operations of Vedanta and Hindalco are at risk of turning unviable due to a coal crunch.
According to Business Standard an I ...
Monday, 06 November 17
MARINE BUNKER EXCHANGE EXPECTS BUNKER PRICES WILL CONTINUE UPWARD TREND NEXT WEEK
World fuel indexes rose during the week, supported by main oil producers’ statements about possible extension of oil production cut agreement ...
|
|
|
Showing 1891 to 1895 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- The University of Queensland
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
|
| |
| |
|
