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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, 19 December 19
COAL POWER GENERATION CONTINUES TO DECLINE IN GERMANY: DESTATIS, XINHUA REPORTED
The volume of electricity generated in coal-fired power plants in Germany decreased “markedly” by 37 percent to 34 billion kilowatt-hou ...
Thursday, 19 December 19
BANGLADESH'S NBR CUTS VAT ON COAL IMPORT FOR POWER PLANTS - THE DAILY STAR
The National Board of Revenue (NBR) reduced value added tax on the import of coal for power plants to 5 percent from present 15 percent for five ye ...
Wednesday, 18 December 19
AVERAGE PRICES OF COAL IN 2018 WERE MORE THAN 60% HIGHER THAN IN 2016 - IEA
Coal use grew again in 2018.
Global coal demand increased by 1.1%, continuing the rebound that began in 2017 after three years of decline ...
Wednesday, 18 December 19
ASIA IS SET TO SUPPORT GLOBAL COAL DEMAND FOR THE NEXT FIVE YEARS - IEA
Press Release: Global coal demand is expected to decline in 2019 but remain broadly stable over the next five years, supported by robust growth in ...
Wednesday, 18 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we all know very well by now, the reduction in the maximum allowable sulphur content of marine fuels in 2020 is likely to have a massive impact ...
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Showing 1236 to 1240 news of total 6871 |
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- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- PTC India Limited - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
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