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, 12 April 19
U.S : MORE THAN 7 GW OF COAL-FIRED GENERATION IS SCHEDULED TO RETIRE BY THE END OF 2020 - EIA
EIA estimates that U.S. coal production decreased by 19 million short tons (MMst) (2%) in 2018, totaling 756 MMst.
EIA also expects ...
Friday, 12 April 19
GLENCORE WINS $520 MILLION DEAL TO SELL COAL TO MEXICO - REUTERS
Global trader Glencore has won contracts worth around $520 million to supply 4.94 million tonnes of coal to Mexico, state-run power utility the Fed ...
Thursday, 11 April 19
AUSTRALIAN COAL IN THE FRONTLINE OF CHINA'S SUPPLY GLUT - AUSTRALIAN FINANCIAL REVIEW
Australian coal will be hardest hit as China cuts foreign imports of its key energy source to tackle oversupply, and implements policies favouring ...
Wednesday, 10 April 19
COALTRANS ASIA - TAKE PART IN THE LARGEST COAL EVENT IN THE WORLD!
Take part in the largest coal event in the world!
Coaltrans Asia is back this June bringing together the entire international coal s ...
Wednesday, 10 April 19
KOSPO INVITED BIDS FOR 160K MT OF MIN. 3700 NCV COAL FOR JUNE LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 160,000 MT of min. 3,800 Kcal/kg ~max.4,100 ...
|
|
|
Showing 1421 to 1425 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- VISA Power Limited - India
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Australian Coal Association
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- The University of Queensland
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
|
| |
| |
|
