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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, 14 August 17
IN A PARIS AGREEMENT WORLD, COAL WILL MEET GROWING ASIAN ENERGY NEEDS - BENJAMIN SPORTON
When providing 41% of the world’s electricity, 85% of global cement, 74% of the world’s steel and 60% of the world’s aluminum, co ...
Friday, 11 August 17
KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 1,280,000 Metric Tons of Bitumino ...
Friday, 11 August 17
U.S WEEKLY COAL OUTPUT ALMOST FLAT WEEK OVER WEEK, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 16.1 million short tonn ...
Thursday, 10 August 17
GLOBAL COAL PRODUCTION FELL SIGNIFICANTLY IN 2016 - IEA
COALspot.com: Global coal production fell significantly in 2016, while global trade in natural gas was up. These are two of the key messages in Wor ...
Thursday, 10 August 17
ANOTHER ACTIVE WEEK FOR THE PANAMAXES WITH INCREASING RATES IN BOTH HEMISPHERES - FEARNLEYS
Supramax
Both basins have remained fairly flat, could say slightly to the negative. A quiet start of the week in the Pacific with holidays in Sin ...
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Showing 1971 to 1975 news of total 6871 |
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- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Planning Commission, India
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- The University of Queensland
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
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