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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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Monday, 04 November 19
COAL INDIA'S OCTOBER PRODUCTION MAY FALL 20% - PTI
Coal India’s production in October is likely to be 19-20 per cent lower at about 40 million tonne, as compared to 49.77 million tonne produce ...
Monday, 04 November 19
PANAMAX: WEAKER SENTIMENTS CONTINUED FROM LAST WEEK, WITH RATES FURTHER SOFTENING IN BOTH BASINS - BALTIC BRIEFING
Capesize
The Capesize market meandered slightly upwards this week before giving back much of its gains mid-week. Opening the week at $24,945, t ...
Thursday, 31 October 19
U.S. COAL-FIRED POWER PLANTS SCHEDULED TO SHUT - REUTERS
U.S. power companies expect to retire or convert from coal to gas over 13,800 megawatts (MW) of coal-fired plants in 2019 after shutting over 13,30 ...
Thursday, 31 October 19
SE ASIA MAY BECOME NET FOSSIL FUEL IMPORTER IN COMING YEARS - IEA
Southeast Asia is set to become a key driver of world energy trends over the next 20 years as its energy demand grows at twice the global average, ...
Monday, 28 October 19
ULTRAMAX: ASIA RATES REMAINED UNDER PRESSURE WITH THE NORTH LACKING FRESH ENQUIRY - BALTIC BRIEFING
Capesize
The end of the week brought about a small increase in sentiment heading into a long weekend for some regions. After sustaining a drop ...
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Showing 1296 to 1300 news of total 6871 |
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- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Parliament of New Zealand
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Australian Coal Association
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Minerals Council of Australia
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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