We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 12 April 19
OIL MARKET REPORT: MIXED SIGNALS - IEA
 The huge increase in oil production we saw in 2H18 has reversed following the implementation of the new Vienna Agreement and the increasing effectiveness of sanctions against Iran and Venezuela. Production by OPEC countries in March was 2.2 mb/d lower than in November and now there is uncertainty concerning Libya. Production by non-OPEC producers in 1Q19 was 0.7 mb/d lower than in 4Q18. This turnaround in supply has contributed to a dramatic increase in prices, with Brent crude rising from $50/bbl at the end of December to more than $70/bbl today.
Tightness in the oil market, however, is not just a supply story. In recent months, the resilience of demand has received less attention than the vicissitudes of production, but it is very important too. Data for 2018 is still incomplete but we can be confident that demand growth was about 1.3 mb/d. As far as 2019 is concerned, amongst the analyst community there is an extraordinarily wide divergence of view as to how strong growth will be. We maintain our forecast of 1.4 mb/d, but accept that there are mixed signals about the health of the global economy, and differing views about the likely level of oil prices.
In terms of real numbers for 2019, although it is still early days the major centres of oil demand growth are performing strongly. In China, the economy seems to be reacting to the government’s stimulus measures with purchasing managers’ indices increasing and export orders recovering, although there are signs that air cargo volumes might be falling. Preliminary oil demand numbers for the January-February period show solid growth of 410 kb/d year-on-year. Elsewhere, demand was strong in the same period, with India growing by 300 kb/d, and the US, which continues to be supported by the petrochemical sector, by 295 kb/d.
Although the main sources of growth are doing well, there are mixed signals from elsewhere. Overall demand in the OECD countries fell by 0.3 mb/d y-o-y in 4Q18, the first such fall for any quarter since the end of 2014, and it is likely to have fallen again in 1Q19 due to weakness in some European economies, with perhaps more to come if there is a disorderly Brexit. There are uncertainties in Argentina and Turkey and signs of only modest demand recovery in the Middle East despite the stimulus provided by rising crude oil prices. Concerns about trade talks linger, and the mood will be influenced by the recent downgrade to global GDP growth by the International Monetary Fund, although it should be noted that the IMF does not expect a recession in the near term. Clearly, oil prices at $70/bbl for Brent, are less comfortable for consumers than they were at the start of the year and the IEA has regularly warned of the dangers of prices rising even higher. Only time will tell if our current demand forecast proves accurate, but the risks are currently to the downside.
When the first Vienna Agreement to cut oil production was made in 2017, progress was measured by total OECD stocks falling to the five-year average level. The second Agreement is underway, and data for February show that stocks are above the average by 16 mb. However, in terms of days of forward demand cover, which is a more relevant assessment, they are below it, and have been for some time. Incidentally, it is worth mentioning middle distillate stocks, particularly in light of January’s implementation of new International Maritime Organisation fuel specifications. If half the increase in marine gasoil demand resulting from the regulations were in OECD countries, about 540 kb/d, current middle distillate stocks would represent 29.3 days of forward cover, about 3.5 days below the average.
The oil market shows signs of tightening as we move into 2Q19, but we see mixed signals in terms of the outlook for demand and whether stock levels are yet “normal”.
Source: IEA
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 13 January 21
CHINA THERMAL GENCO PROFITS FACE PRESSURE AMID POWER SHORTAGES - FITHCH WIRE
High coal and gas prices will put near-term pressure on margins for thermal power generators in China, says Fitch Ratings. However, the power short ...
Wednesday, 13 January 21
COAL TO BE BIGGEST CONTRIBUTOR TO INDIA'S $5 TRILLION ECONOMY: AMIT SHAH - BUSINESS STANDARD
The Centre on Monday awarded the letter of allocation to successful bidders of coal mines under the commercial auction held during October-November ...
Monday, 11 January 21
MUTED COAL RECOVERY IN 2021 - BALTIC EXCHANGE
Coal demand is expected to rebound in 2021
Medium-term outlook is less favourable although demand declines are expected to be subtle ...
Sunday, 10 January 21
KOREAN GENCOS INVITED BIDS FOR TOTAL 880,000 TONS OF COAL FOR MARCH 2021 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), on behalf of EWP, KOSPO, KOSEP and KOWEPO issued an international tender for total 880 ...
Friday, 08 January 21
INDIA COULD COMPETE AGAINST CHINA IN SOLAR MODULE PRODUCTION WITH THE RIGHT GOVERNMENT SUPPORT - IEEFA
The focus should be on helping manufacturers become globally competitive
Although one of the top 10 solar module producers in the world, India ...
|
|
|
Showing 671 to 675 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- ICICI Bank Limited - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
|
| |
| |
|
