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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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Tuesday, 17 December 19
AUSTRALIA ENERGY MARKET OPERATOR TURNS SCROOGE ON COAL LOBBY: RUSSELL
Australia, which vies with Indonesia for the title of the world’s largest coal exporter, is planning for an electricity future where use of t ...
Tuesday, 17 December 19
BACK TO FUTURE FOR BUSH AS AUSTRALIA CONSIDERS MOVING AWAY FROM COAL NEWCASTLE - HERALD
Looking backwards could show the way forward for regional communities planning for a future beyond mining.
One of Australia’s ...
Tuesday, 17 December 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.01 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points, down 0.01 percent week on week.
The index, released by China Taiy ...
Tuesday, 17 December 19
YEAR 2019: IT IS LOOKING SET THAT THIS YEAR WILL BE ONE OF THE SLOWEST IN TERMS OF DRY BULK NEWBUILDING ACTIVITY - ALLIED
With just two weeks remaining before 2019 comes to an end, it is now looking set that this year will be one of the slowest in terms of dry bulk new ...
Monday, 16 December 19
ULTRAMAX: A 63,000DWT SHIP FIXING DELIVERY FOR A SINGAPORE TRIP VIA INDONESIA, FOR RE-DELIVERY TO CHINA AT $11,000 - BALTIC BRIEFING
Capesize
It was one-way traffic for the Capesize market this past week, with all routes giving up value. While downward momentum may have slowe ...
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Showing 1241 to 1245 news of total 6871 |
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- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- The University of Queensland
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
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