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.
|
|
Monday, 14 August 17
IN A PARIS AGREEMENT WORLD, COAL WILL MEET GROWING ASIAN ENERGY NEEDS - BENJAMIN SPORTON
When providing 41% of the world’s electricity, 85% of global cement, 74% of the world’s steel and 60% of the world’s aluminum, co ...
Friday, 11 August 17
KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 1,280,000 Metric Tons of Bitumino ...
Friday, 11 August 17
U.S WEEKLY COAL OUTPUT ALMOST FLAT WEEK OVER WEEK, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 16.1 million short tonn ...
Thursday, 10 August 17
GLOBAL COAL PRODUCTION FELL SIGNIFICANTLY IN 2016 - IEA
COALspot.com: Global coal production fell significantly in 2016, while global trade in natural gas was up. These are two of the key messages in Wor ...
Thursday, 10 August 17
ANOTHER ACTIVE WEEK FOR THE PANAMAXES WITH INCREASING RATES IN BOTH HEMISPHERES - FEARNLEYS
Supramax
Both basins have remained fairly flat, could say slightly to the negative. A quiet start of the week in the Pacific with holidays in Sin ...
|
|
|
Showing 1971 to 1975 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Latin American Coal - Colombia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
|
| |
| |
|
