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.
|
|
Friday, 17 April 20
PANDEMIC TO BRING ASIA'S 2020 GROWTH TO HALT FOR 1ST TIME IN 60 YEARS - IMF: REUTERS
Asia’s economic growth this year will grind to a halt for the first time in 60 years, as the coronavirus crisis takes an “unprecedented ...
Friday, 17 April 20
OPEC BRACES FOR OIL MARKET'S "HISTORIC SHOCK"
OPEC released its much anticipated April monthly report.
Crude Oil Price Movements
Crude oil prices collapsed in March 2020, rec ...
Friday, 17 April 20
SAUDI ARABIA'S MAY 2020 OSPS FOR CRUDE EXPORTS BODE WELL FOR ASIAN REFINERS - WOOD MACKENZIE
On 13 April, Saudi Arabia announced the Official Selling Prices (OSPs) for its May crude oil exports. The new OSPs speak volumes about Saudi Arabia ...
Friday, 17 April 20
SEABORNE COAL PRICES UNDER PRESSURE AS DEMAND SOFTENS IN CHINA, INDIA - CLYDE RUSSELL
Worrying signs are emerging for coal exporters to the world’s biggest markets in Asia, as top buyers China and India move to favour domestic ...
Thursday, 16 April 20
THERMAL POWER SECTOR FACES BLEAK SCENARIO POST-COVID SITUATION - THE HINDU BUSINESS LINE
The centre should take a fresh look at coal-energy value chain as the sector tops the chart on loan defaults.
Covid-19 may have serv ...
|
|
|
Showing 1011 to 1015 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- The University of Queensland
- Aditya Birla Group - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
|
| |
| |
|
