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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, 26 November 19
PREPARATIONS INTENSIFY AS 1 JANUARY 2020 GLOBAL CUT IN SULPHUR IN SHIP'S FUEL OIL LOOMS: IMO
“IMO 2020” requirements for ships to cut sulphur oxide emissions enter into effect in just over one month’s time. This will signi ...
Monday, 25 November 19
COAL SUPPLY BY CIL TO POWER SECTOR DROPS OVER 8 PC TO 253 MT IN APRIL-OCTOBER - PTI
Supply of coal by state-owned CIL to the power sector registered a decline of 8.5 per cent to 253 million tonnes in the April-October period of thi ...
Monday, 25 November 19
A 53,000DWT SHIP FIXED AT $9,500 DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY VIETNAM - BALTIC BRIEFING
Capesize
After a week of value being eroded on the Capesize market, Friday brought improved sentiment across most of the routes. The 5TC averag ...
Monday, 25 November 19
KOWEPO INVITED 6.79 MILLION TONS OF (SUB)BITUMINOUS STEAM COAL BIDS
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for 6,798,000 tons of coal for 5 years ...
Friday, 22 November 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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Showing 1271 to 1275 news of total 6871 |
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- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
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