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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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Tuesday, 26 September 17
REDUCING THE RISK OF LIQUEFACTION - IUMI
KNOWLEDGE TO ELEVATE
Liquefaction is a phenomenon that can take place in granular materials, such as soil or fine ore, where the beh ...
Tuesday, 26 September 17
THE CURRENT HIGHS IN THE DRY BULK FREIGHT MARKET WILL SURELY BE SURPASSED AND BY A CONSIDERABLE MARGIN IN THE NEXT YEAR OR SO - GEORGE LAZARIDIS
The Dry Bulk market con!nues to show a strong face amidst the favorable tail winds being seen, which have helped the Bal!c Dry Index inch above the ...
Monday, 25 September 17
CHOICES FOR SHIPPING AS 2020 APPROACHES? - CLARKSONS
Historically, the fuel of choice for the vast majority of large cargo ships has been heavy fuel oil. But in 2020, sulphur oxide emissions will be c ...
Monday, 25 September 17
THE FREIGHT MARKET ROSE IN ALL SEGMENTS EXCEPT PANAMAX WEEK OVER WEEK
COALspot.com: The freight market rose in all segments except Panamax week over week. Mainly Cape has supported to boosted up BDI this past week, BD ...
Monday, 25 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FOURTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.5 million short ton ...
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Showing 1931 to 1935 news of total 6871 |
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- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- PTC India Limited - India
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Australian Coal Association
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