We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 15 November 18
OIL MARKET REPORT: HEEDING THE WARNINGS - IEA
 In last month’s Report, we noted that since the middle of the year oil supply had increased sharply, with gains in the Middle East, Russia and the United States more than compensating for falls in production in Iran, Venezuela and elsewhere. New data show that the pace has accelerated, and this higher output, in combination with Iranian sanctions waivers issued by the US and steady demand growth, implies a stock build in 4Q18 of 0.7 mb/d. Already, OECD stocks have increased for four months in a row, with products back above the five-year average. In 1H19, based on our outlook for non-OPEC production and global demand, and assuming flat OPEC production (i.e. losses from Iran/Venezuela are offset by others), the implied stock build is currently 2 mb/d.
In the August edition of this Report we described the replacement of Iranian and Venezuelan barrels as “challenging”, and that there was a danger of prices rising too high too fast. Producers have heeded the warnings and more than met the challenge and today, the Big Three, Russia, Saudi Arabia and the United States, all see output at record levels. Total non-OPEC production in August, the latest month for which we have consolidated data, was 3.5 mb/d higher than a year ago, with the United States contributing an extraordinary 3.0 mb/d. Russia’s crude output has hit a new record of 11.4 mb/d, with companies suggesting that they could produce even more.
In early October, the price of Brent crude oil reached a four-year high above $86/bbl, reflecting the legitimate fears of market tightness. In our view, this was a dangerous “red zone” and it justified calls for producers to raise output. Today, the price has fallen to a more reasonable level close to $70/bbl, well below where it was in May before the US announced its change of policy on Iran. Lower prices are clearly a benefit to consumers, especially hard-pressed ones in developing countries that are suffering from the additional handicap of weak national currencies. For now, forecasts of oil demand growth remain solid with an increase of 1.3 mb/d this year and an increase to 1.4 mb/d in 2019, even though the macro-economic outlook is uncertain.
We should also recognise the interests of the producers. For many countries, even though their output might have increased, prices falling too far are unwelcome. Ministers from the Vienna Agreement countries will meet in early December, but we have already seen suggestions from leading producers that supply could be cut soon if customers, seeing ample supply, rising stocks, and slumping refining margins, request lower volumes.
Although the oil market appears to be more relaxed than it was a few weeks ago, and there might be a sense of “mission accomplished” that producers have met the challenge of replacing lost barrels, such is the volatility of events that rising stocks should be welcomed as a form of insurance, rather than a threat. The United States remains committed to reducing Iranian oil exports to zero from the 1.8 mb/d seen today; there are concerns as to the stability of production in Libya, Nigeria and Venezuela; and the tanker collision last week in Norwegian waters, although modest in impact, is another reminder of the vulnerability of the system to accidents.
The response to the call by the IEA and others to increase production is a reminder that the oil industry works best when it works together. Regular contacts between key players are essential in creating understanding, and even though oil diplomacy has succeeded so far this year, it needs to be maintained to ensure market stability.
Source: IEA
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 11 March 19
SUPRAMAX: A 61,000 DWT VESSEL WAS BOOKED SINGAPORE FOR A TRIP VIA INDONESIA TO CHINA AT $10,500 - BALTIC BRIEFING
Capesize
A faint glimmer of hope with the suggestion the market may have finally bottomed out, with owners attempting to resist further cuts in ...
Friday, 08 March 19
KOMIPO INVITES BIDS FOR 2.6 MILLION TONS OF AUSTRALIAN 5700 NAR COAL FOR FIVE YEARS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 MT of min. 5700 NAR coal of Australian origin to be burnt ...
Friday, 08 March 19
CHINA'S COAL DEMAND FORECAST TO DROP SLOWLY - YONHAP
China’s coal demand is expected to fall at a snail’s pace over the next 20 years due to the country’s preference for the cheap fo ...
Thursday, 07 March 19
INDONESIAN COAL PRICE REFERENCE PLUNGE TO LOWEST IN SEVEN MONTHS
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 06 March 19
KOSPO INVITES BIDS FOR 80,000 MT OF 3800 NCV COAL FOR 21 - 30 MARCH, 2019 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 80,000 MT of min 3,800 kcal/kg NCV low calor ...
|
|
|
Showing 1451 to 1455 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- MS Steel International - UAE
- ICICI Bank Limited - India
- VISA Power Limited - India
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
|
| |
| |
|
