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.
|
|
Tuesday, 10 March 20
CHINA'S COAL-RICH PROVINCE ENSURES ENERGY SUPPLY AMID EPIDEMIC - XINHUA
China’s coal-rich province of Shanxi has seen more than 500 coal mines resume production in February, which ensured energy supply amid the ou ...
Monday, 09 March 20
OPEC+ 'NO DEAL' A BLOW TO THE MARKET - WOOD MACKENZIE
Speaking after today’s OPEC+ meeting broke up, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie, said: “Today’s o ...
Monday, 09 March 20
KOREA EAST-WEST POWER INVITED BIDS FOR 150,000 MT OF MIN 4,400 - MAX 5,499 NAR COAL
COALspot.com: KOREA EAST-WEST POWER CO. LTD. of South Korea has issued an international tender for total 150,000 MT of LCV coal for May – Jun ...
Sunday, 08 March 20
SUPRAMAX: A 55,000DWT VESSEL FIXING DELIVERY FROM EAST KALIMANTAN FOR A TRIP TO VIETNAM AT $9,100 - BALTIC BRIEFING
SUPRAMAX/ULTRAMAX - A 56,000DWT VESSEL FIXED DELIVERY SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY EAST COAST INDIA, IN THE $6,000S
SUPRAMAX/U ...
Friday, 06 March 20
CHINA RESUMES 83.4 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 83.4 percent of its coal production capacity amid the fight against the novel coronavirus outbreak, the National Energy Administr ...
|
|
|
Showing 1081 to 1085 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Marubeni Corporation - India
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
|
| |
| |
|
