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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, 15 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country's Co ...
Sunday, 13 October 19
INDONESIA: PANAMAX VESSELS OPEN SOUTH CHINA WERE REPORTEDLY FIXED AT $14,000 LEVEL, WITH REDELIVERY BACK IN CHINA - BALTIC BRIEFING
Capesize
The Capesize market managed to find a floor and rally a little this week after several weeks of declines. While the West Australia to ...
Friday, 11 October 19
INDIAN MINERS REJECT PLAN TO LINK NATIONAL COAL INDEX TO FOREIGN PRICES - REUTERS
India’s miners are rejecting a government proposal to establish a national coal index that would be linked to international prices, documents ...
Friday, 11 October 19
THE OCTOBER BENCHMARK PRICE OF INDONESIAN THERMAL COAL DECLINES TO LOWEST SINCE OCTOBER 2016
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Friday, 11 October 19
KOREA SOUTH-EAST POWER TO IMPORT LCV COAL IN NOVEMBER
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for 75,000 Metric Tons low calorific v ...
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Showing 1316 to 1320 news of total 6871 |
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- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Parliament of New Zealand
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Australian Coal Association
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Marubeni Corporation - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
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