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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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Sunday, 29 December 19
AUSTRALIA SUFFERS WORST OF CHINA'S COAL CURBS AFTER EARLIER BOOM - BLOOMBERG
Australia is bearing the brunt of China’s year-end coal import restrictions, ceding market share to other exporters including Russia and Mong ...
Saturday, 28 December 19
SUPRAMAX: A 63,000DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
Capesize
The Capesize market this past week has been attempting to recalibrate itself in consideration of weakening freight levels and increasing ...
Saturday, 28 December 19
CHINESE INDUSTRIAL CITY TO FURTHER CUT COAL CONSUMPTION - XINHUA
Harbin, capital city of Heilongjiang Province in China’s northeastern industrial heartland, is planning to further reduce its coal consumptio ...
Friday, 27 December 19
MISERY LOOMS OVER TOP COAL SHIPPERS AS CHINA TO BUY LESS IN 2020 BLOOMBERG
China isn’t cutting back on consumption of the most-polluting fossil fuel just yet, but it is set to reduce imports.
The world ...
Thursday, 26 December 19
REVIEW OF 2019 AND OUTLOOK FOR 2020 - OPEC
Global economic growth slowed in 2019, impacted by a variety of challenges. Trade issues not only led to reduction in global final consumption but ...
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Showing 1221 to 1225 news of total 6871 |
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- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Planning Commission, India
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
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