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, 22 November 19
FORTY PERCENT OF ADARO'S COAL SALES VOLUME IN 9M19 GOES TO THE SOUTHEAST ASIA REGION
PT Adaro Energy Tbk released its consolidated financial statements yesterday, for the nine month period, ending September 30, 2019.
...
Friday, 22 November 19
UNCERTAINTY IN THERMAL COAL MARKET PERSISTED IN 3Q19 - ADARO
Uncertainty in thermal coal market persisted in 3Q19, mainly due to the actions, or inactions, of China in setting policies for global coal market. ...
Friday, 22 November 19
CIL TO DEVELOP 55 NEW COAL MINES IN NEXT 5 YEARS: COAL MINISTER
State-owned CIL will develop 55 new coal mines and expand 193 existing ones in the next five years, Parliament was informed. The company is also un ...
Thursday, 21 November 19
4TH DEEP OFFSHORE WEST AFRICA CONGRESS 2020
4th Deep Offshore West Africa Congress 2020
17 Janaury 2020
Accra, Ghana
Press Release: Following the great succ ...
Thursday, 21 November 19
INDONESIA PLANS TO KEEP $70/T COAL PRICE CAP FOR PLN, DMO - REUTERS
Indonesia’s energy minister Arifin Tasrif said his ministry plans to maintain a price cap on coal being sold to state electricity utility, PT ...
|
|
|
Showing 1276 to 1280 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- MS Steel International - UAE
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
|
| |
| |
|
