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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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Monday, 09 October 17
INDIA'S COAL IMPORTS UP 10% IN SEPT AS POWER PLANTS FACE FUEL SHORTAGE - PTI
Coal imports rose by 9.5 per cent to 18.33 million tonnes (MT) in September, after having registered year-on-year decline for five months in a row, ...
Friday, 06 October 17
U.S. WEEKLY COAL OUTPUT HAS REBOUNDED AFTER DECLINING 5 WEEKS IN A ROW
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tons ...
Wednesday, 04 October 17
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
During the past couple of months the dry bulk market has displayed particularly strong momentum and we have been witnessing steady appetite and act ...
Tuesday, 03 October 17
VIETNAM'S COAL-FIRED THERMAL POWER DEPENDENT ON CHINA - VIETNAMNET BRIDGE
A report from the Green Innovation and Development Centre (GreenID) showed that, as of the end of last year, of 27 coal-fired thermopower plants, 1 ...
Tuesday, 03 October 17
RIO TINTO COMPLETES FIRST FULLY AUTONOMOUS RAIL JOURNEY IN WESTERN AUSTRALIA
Rio Tinto has successfully completed the first fully autonomous rail journey at its iron ore operations in the Pilbara region of Western Australia ...
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Showing 1921 to 1925 news of total 6871 |
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- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Siam City Cement - Thailand
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- Parliament of New Zealand
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- The University of Queensland
- Planning Commission, India
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
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