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