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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, 08 August 17
KOMIPO INVITES BIDS FOR 5200 AND 5700 NAR COAL FOR Q4 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 420,000 Metric Tons of Bituminous coal ...
Monday, 07 August 17
INDIA'S THERMAL COAL IMPORTS HAVE FALLEN BY 16% YEAR-ON-YEAR IN THE FIRST FIVE MONTHS OF THIS YEAR
COALspot.com: The second quarter of 2017 was characterized by volatility in the coal market driven by policy measures and weather disruptions say A ...
Monday, 07 August 17
BUMA SIGNED $385 MILLION WORTH OF NEW CONTRACT WITH PT PADA IDI
COALspot.com: PT Delta Dunia Makmur Tbk., has announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into min ...
Monday, 07 August 17
THE SHIPPING INDEXES BOUNCE BACK THIS PAST WEEK
COALspot.com: The Freight market rose this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positive trend week ove ...
Friday, 04 August 17
U.S. WEEKLY COAL OUTPUT UP 4.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 16.1 million short tonn ...
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Showing 1981 to 1985 news of total 6871 |
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- Aditya Birla Group - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- The University of Queensland
- PTC India Limited - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Planning Commission, India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
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