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Monday, 14 October 19
WINTER OIL MARKET OUTLOOK - OPEC
 Product markets in the last two months have benefitted from seasonal maintenance which have led to a tighter product market environment, providing some support to product crack spreads and refining margins. With most refineries now back online in all main regions, refinery intakes have risen steadily, to stand some 1.0 mb/d higher in September compared to the same month last year.
As a result of new refining capacity over the last year, refinery runs during winter are likely to reach new record highs, leading to potentially higher supply in the product markets. At the same time, economic headwinds pointing to a slowdown in manufacturing in the OECD may result in a possible decline in consumption of heavier fuels, weighing on the outlook for product markets over the winter season, while increased competition from ethane and LPG may also bite into demand for products including naphtha and transport fuels. In the US, gasoil consumption is expected to receive support from the manufacturing, construction and freight sectors.
Moreover, a seasonal pick up in heating oil demand this winter is expected, despite increasing substitution by natural gas. Jet fuel markets should also remain supported by an uptick in travel activities, particularly in the holiday season. In contrast, the seasonal decline in gasoline demand in the winter months will once again weigh on prices and ultimately refining economics (Graph 1). This may result in higher gasoline exports in 4Q19 to prevent strong inventory builds and to keep gasoline prices stable. Naphtha crack spreads will also come under pressure and suffer losses as strong LPG output, and lower LPG prices in the US continues to compete with naphtha.
US oil demand growth by main petroleum products, mb, y-o-y change In Europe, the slowdown in transportation fuel demand will continue representing a challenge to product markets. Despite a slight pick-up in gasoline consumption in 1H19, mainly in France, unfavourable economic fundamentals have dampened demand in Germany. Moreover, a mild pick up in gasoline powered vehicle sales observed in France, Italy and Spain has been offset by a decline in overall car sales. The pressure in Europe’s product markets could be further exacerbated by new cracking and other upgrading projects in Russia and Belarus, which is projected to increase regional transport fuel production by the end of 2019.
Furthermore, data reflects a declining trend in product demand in the fourth quarter, particularly for naphtha and residual fuel. In Asia, gasoil markets will remain supported by industrial and transportation demand. However, product balances will most likely soften compared with the previous year, once all refineries restore their operation activities in 4Q19, resulting in excess product supply, particularly for gasoline. Concerning the IMO 2020, a combination of declining heavy crude availability, increased refinery conversion capacity, growing appetite for heavy crude, and stricter sulphur limits on marine bunker fuel are likely to lead to rising prices for low sulphur fuel oil (LSFO). At the same time, the declining availability of high sulphur fuel oil (HSFO) could also hold up prices for that product to some degree.
Together with a mismatch in terms of quality between available and required crude slates for refinery intake, this could provide limited support to processing rates as refineries will have to resort to higher intakes to boost fuel oil or compliant marine fuel production. Graph 2: OECD Europe oil demand growth by main petroleum products, mb, y-o-y change Looking ahead, factors such as the onset of the winter season, healthy demand for middle distillates in Asia, and preparations for IMO should support middle-to-heavy product markets in the coming months. At the same time, uncertainties regarding the global economic outlook, declining car sales and fuel substitution programmes in Europe, and higher products supply from Asia could limit the upward trend in the product markets this winter.
Source: OPEC
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Thursday, 02 January 20
SULPHUR 2020 COMPENDIUM - HOW ARE INDIVIDUAL PORT STATES EXPECTED TO REACT? - STANDARD CLUB
KNOWLEDGE TO ELEVATE
With the new sulphur limits soon to be in force, Standard Club has been investigating the ways in which certain jurisdict ...
Monday, 30 December 19
AUSTRALIAN MINERS HIT BY LOWEST THERMAL COAL PRICE IN MORE THAN A DECADE - THE GUARDIAN
Australian coal exporters have experienced the biggest annual drop in thermal coal prices in more than a decade during 2019, raising doubts about i ...
Monday, 30 December 19
INDIA'S COAL IMPORTS RISE 4% TO 161.43 MT IN APRIL-NOVEMBER 2019 - PTI
The country’s coal imports registered an increase of 4.4 per cent to 161.43 million tonnes (MT) in the April-November period of the ongoing f ...
Sunday, 29 December 19
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Sunday, 29 December 19
IMO 2020 COMPLIANCE: IT'S UP TO US TO BE GOOD CITIZENS - IBIA
One of the concerns around implementation of the 0.50% sulphur limit has been, and continues to be, the need for effective enforcement to ensure a ...
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Showing 1216 to 1220 news of total 6871 |
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- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
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