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.
|
|
Thursday, 23 January 20
AFRICAN POWER PLATFORM PUBLISHES REPORTS ON POWER SECTOR FRAMEWORK FOR SELECTED AFRICAN COUNTRIES
Press Release: African Power Platform publishes Reports on Power Sector Framework for selected African Countries
With the repo ...
Thursday, 23 January 20
COAL-BASED ELECTRICITY GENERATION SURGES 95% IN 2019 - PROFIT PAKISTAN TODAY
Coal-based power generation jumped 94.5 percent to 2,030 Gigawatt hours (GWh) in the year to November 2019, taking its share in the country’s ...
Wednesday, 22 January 20
INDIA: COAL PRODUCTION FROM CAPTIVE MINES RAISES 24% OUTPUT IN APRIL TO DECEMBER - FINANCIAL EXPRESS
Coal production from captive mines in the first nine months of the ongoing financial year was up 24% year-on-year (y-o-y) at 40.93 million tonne (M ...
Wednesday, 22 January 20
SHIPPING MARKET INSIGHT - INTERMODAL
It seems that we are finally seeing whitish smoke as far as the trade feud between the US and China is concerned, while following this much anticip ...
Tuesday, 21 January 20
IRON ORE - 5 THINGS TO WATCH IN 2020 - WOOD MACKENZIE
Wood Mackenzie identifies five trends that will impact the iron ore industry.
Slower demand growth (especially in China) and a decen ...
|
|
|
Showing 1176 to 1180 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Central Electricity Authority - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
|
| |
| |
|
