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Thursday, 26 December 19
REVIEW OF 2019 AND OUTLOOK FOR 2020 - OPEC
 Global economic growth slowed in 2019, impacted by a variety of challenges. Trade issues not only led to reduction in global final consumption but also caused investment growth to decelerate. On the positive side, global trade slowdown has likely bottomed out, and now the negative trend in industrial production seen in 2019 is expected to reverse in 2020. As a result, global economic growth is forecast at 3.0% for both 2019 and 2020.
Recent progress on various trade agreements such as the conclusion of the Regional Comprehensive Economic Partnership of Asian-Pacific nations may provide the base to re-energize the momentum in global trade, although challenges remain, particularly regarding ongoing trade talks between the US and its trade partners, particularly China.
While global monetary policies continue to be accommodative, high debt levels in many major economies represent some risk. Additional challenges are posed by fiscal issues in few EU Member Countries, Brexit, and Japan’s ongoing slowdown. Fiscal imbalances in emerging and developing economies may also have a negative effect on global economic growth, while recent social unrest in some economies may add more downward pressure.
Global oil demand is projected to rise by 0.98 mb/d in 2019, mainly due to cooling macro-economic indicators in major economies. Oil demand in the OECD is projected to grow by a marginal 0.02 mb/d in 2019, due to slowerthan-expected demand in the Americas and Asia Pacific. Weaker-than-expected diesel requirements in the US amid the slower pace in manufacturing and construction activity have limited demand growth in the current year. In Asia Pacific, significant petrochemical plant turnarounds reduced demand for petrochemical feedstock in 1H19. In non-OECD oil demand in 2019 is anticipated to rise by 0.96 mb/d, primarily as a result of slower-than-expected demand in India due to reduced industrial and transportation fuel requirements in 2Q19 and 3Q19. In 2020, global oil demand is expected to grow by 1.08 mb/d, with the OECD growing by 0.07 mb/d. OECD Americas is anticipated to be the only OECD region in positive demand growth territory next year, supported mainly by petrochemical capacity additions. In the non-OECD region, oil demand growth is projected to be around 1.01 mb/d, with growth projected to improve in Other Asia, Latin America and the Middle East. Indeed, the transportation and petrochemical sectors are expected to continue leading oil demand growth in 2020.
On the supply side, non-OPEC oil supply growth in 2019 has been lower than initial market expectations, now standing at 1.82 mb/d compared to the initial projection of 2.10 mb/d in July 2018. Weaker-thanexpected growth in Canada, Brazil, Norway, Kazakhstan, China and Russia has been the key contributor to the downward revision, despite the betterthan-expected performance of US liquids supply. US oil output is leading this growth with 1.62 mb/d in 2019. In 2020, non-OPEC supply is expected to see a continued slowdown in growth on the back of decreased investment and lower drilling activities in US tight oil. Non-OPEC supply is now forecast to grow by 2.17 mb/d in 2020, representing a downward revision of around 0.27 mb/d from initial forecasts in July 2019 on the back of downward revisions in US oil supply. Nevertheless, Graph 2: World oil demand and non-OPEC supply revisions from initial forecast in 2019 and 2020 incremental production from the US tight plays, particularly in the Permian Basin, as well as from offshore fields in Norway, Brazil, Australia and possibly Guyana, will contribute to the non-OPEC supply in 2020.
Evidently, significant and successful effort of countries participating in the Declaration of Cooperation (DoC) have helped the global oil market to remain relatively balanced in 2019. Going forward, countries participating in the DoC reaffirmed their continuing commitment to oil market stability as they have decided this month to adjust production further by another 500 tb/d, adding to the previous adjustment of 1.2 mb/d, and now totalling to 1.7 mb/d as of January 2020. This is to stabilize the market in the interests of both consumers and producers, as well as the wellbeing of the global economy.
Source: OPEC
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Tuesday, 07 January 20
CLEANER AIR IN 2020: 0.5% SULPHUR CAP FOR SHIPS ENTERS INTO FORCE WORLDWIDE - EUROPEAN COMMISSION
From 1 January 2020, the maximum sulphur content of marine fuels is reduced to 0.5% (down from 3.5%) globally – reducing air pollution and pr ...
Tuesday, 07 January 20
BHP EYES INDIA FOR COAL GROWTH AS CHINA DEMAND FLATLINES - SYDNEY MORNING HERALD
Australia’s largest miner, BHP, believes the long-term trajectory of the emerging economy of India and the acceleration of its steelmaking ou ...
Sunday, 05 January 20
BUNKER QUALITY CLAIMS IN 2020 - ISSUES TO CONSIDER - CLYDE&CO
KNOWLEDGE TO ELEVATE
In recent years the shipping industry has faced a significant number of bunker quality claims, most notably ari ...
Saturday, 04 January 20
SUPRAMAX: A 53,000DWT VESSEL FIXING DELIVERY INDONESIA TRIP TO CHINA AT $4,000 AND A 58,000DWT SHIP FIXING DELIVERY EAST KALIMANTAN TRIP TO THAILAND AT $5,500 - BALTIC BRIEFING
Capesize
The New Year started with an erosion on pre-Christmas rates as the higher low sulphur fuel costs due to IMO 2020 affected levels. From ...
Thursday, 02 January 20
DMO 2020 PRICE SET FOR ELECTRICITY SECTOR - IAN WOLLFF
On the 26th December 2019, the Minister of Energy and Mineral Resources (ESDM) issued the decree No. 261.K/30.MEM/2019 about the States needs for c ...
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Showing 1211 to 1215 news of total 6871 |
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- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- McConnell Dowell - Australia
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
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