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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, 19 February 19
FAST DEPLETING COAL RESERVES COULD PUSH UP ENERGY PRICES, CAUTIONS EXPERT - THE HINDU BUSINESS LINE
The fast depletion of coal, a strategic resource and India’s fuel of choice currently, has huge implications for energy costs, according to K ...
Monday, 18 February 19
INDIA'S COAL IMPORT FALLS TO 17.25 MT IN JANUARY - PTI
Coal imports saw a decline in January FY 2019 to 17.25 MT from 19.59 MT in the same month of the previous fiscal, according to a report by mjunctio ...
Monday, 18 February 19
THE ROLE OF COAL IN INDIA'S ENERGY AMBITIONS - WCA
India is the world’s second most populous country and figures among the world’s most rapidly growing economies.
The Sout ...
Saturday, 16 February 19
COALTRANS CHINA 2019, CHINA'S LARGEST COAL INDUSTRY GATHERING
Press Release: Coaltrans China 2019 | With the import ban likely to be lifted, it’s time for you to meet your potentia ...
Wednesday, 13 February 19
MALAYSIA WAS THE REGION'S LARGEST COAL IMPORTER WITH 34 MT IN 2018, UP 25% Y-O-Y
Although coal market in 2018 started with strong prices, starting in the beginning of the second half of 2018, the international spot prices for co ...
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- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- The University of Queensland
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Minerals Council of Australia
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Planning Commission, India
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
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