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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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- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- The University of Queensland
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
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