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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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Wednesday, 10 April 19
CHINA'S GROWING THERMAL COAL SUPPLY TO PRESSURE EXPORTERS - FITCH RATINGS
Growing Chinese thermal coal supply is likely to lead to further tightening of import controls by the government, putting pressure on seaborne coal ...
Wednesday, 10 April 19
SHIPPING MARKET INSIGHT - INTERMODAL
The tragedy in Brazil’s Vale Brumadinho where a tailings dam collapsed in January ranks among the world’s worst mining disasters. It co ...
Monday, 08 April 19
5TH INDIA NUCLEAR NEW BUILD CONGRESS 2019
5th India Nuclear New Build Congress 2019
The congress in Mumbai aims to bring together representatives from governments, regulators ...
Monday, 08 April 19
THERMAL COAL PRICES FALL, INDIAN POWER PLANTS TO SEE LIMITED GAINS - BUSINESS STANDARD
Thermal coal prices are on a downward spiral globally. Australian coal prices have fallen nearly 20 per cent in the past week, and 40 per cent from ...
Monday, 08 April 19
CHEAP COAL SWELLS IN SOUTHEAST ASIA, FOILING GLOBAL GREEN PUSH - NIKKEI
Southeast Asian countries are turning to low-cost coal to satisfy their surging electricity demand as the West shies away from the fossil fuel unde ...
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Showing 1426 to 1430 news of total 6871 |
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- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- White Energy Company Limited
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
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