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.
|
|
Tuesday, 11 December 18
SHIPPING MARKET ANALYSIS - ALLIED
A lot of discussions have been made as to the effects of the IMO 2020 regulation on OPEX levels, investment feasibility of& ...
Tuesday, 11 December 18
PORT OF NEWCASTLE SHIPPED 10.849 MMT OF COAL IN NOVEMBER DOWN 23.44 PERCENT MOM
COALspot.com: The Port of Newcastle, Australia’s major trading port and the world’s largest coal export port has shipped A$ 1,574.8 mil ...
Thursday, 06 December 18
IN THE EAST, BIGGER SUPRA WAS FIXED CA US$ 10K FOR INDO-CHINA COAL ROUND - FEARNLEYS
Capesize
There is cautious optimism for the Capes, with healthier volumes and improving rates in the Pacific. West Australia round is gradually ...
Thursday, 06 December 18
U.S. COAL CONSUMPTION IN 2018 EXPECTED TO BE THE LOWEST IN 39 YEARS - EIA
EIA expects total U.S. coal consumption in 2018 to fall to 691 million short tons (MMst), a 4% decline from 2017 and the lowest level since 1979. U ...
Thursday, 06 December 18
DEMAND RISKS WEIGH ON GLOBAL SHIPPING SECTOR OUTLOOK - FITCH RATINGS
The global shipping sector outlook remains negative reflecting the demand-side risks of protectionism and slower economic growth, Fitch Ratings say ...
|
|
|
Showing 1536 to 1540 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Australian Coal Association
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- White Energy Company Limited
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- The University of Queensland
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Planning Commission, India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
|
| |
| |
|
