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