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, 20 November 19
FOREIGN DIRECT INVESTMENTS IN COMMERCIAL COAL MINING IN INDIA? - DIPESH DIPU
In August 2019, Government of India announced its approval for Foreign Direct Investment (FDI) for coal mining, processing and sale. Not that FDI i ...
Wednesday, 20 November 19
AUSTRALIA'S NEW HOPE POSTS 66% SURGE IN Q1 SALEABLE COAL OUTPUT - REUTERS
Australian coal producer New Hope Corp Ltd reported on Tuesday a 66% jump in saleable coal production in the first quarter, as output ramped up at ...
Wednesday, 20 November 19
THE IMO AND THE PRICE OF GAS OR THE IMPACT OF THE INTERNATIONAL MARITIME ORGANISATION'S SULPHUR 2020 LIMIT FOR MARINE FUEL OIL ON THE PRICE OF GAS - KING & SPALDING
The main bunker fuel for ships is High Sulphur Fuel Oil (HSFO, with sulphur up to 3.5% m/m (mass by mass)). This will all change on 1 January 2020 ...
Wednesday, 20 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
While the market expects the next OPEC meeting, there are still no clear signs indicating that the organization will keep supporting oil prices, wh ...
Monday, 18 November 19
CHINA RECORDS STABLE COAL PRODUCTION IN JAN-OCT: XINHUA
China’s raw coal output registered stable growth in the first 10 months, while its imports remained robust, official data showed.
...
|
|
|
Showing 1281 to 1285 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- The University of Queensland
- Australian Coal Association
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
|
| |
| |
|
