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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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Thursday, 02 January 20
SULPHUR 2020 COMPENDIUM - HOW ARE INDIVIDUAL PORT STATES EXPECTED TO REACT? - STANDARD CLUB
KNOWLEDGE TO ELEVATE
With the new sulphur limits soon to be in force, Standard Club has been investigating the ways in which certain jurisdict ...
Monday, 30 December 19
AUSTRALIAN MINERS HIT BY LOWEST THERMAL COAL PRICE IN MORE THAN A DECADE - THE GUARDIAN
Australian coal exporters have experienced the biggest annual drop in thermal coal prices in more than a decade during 2019, raising doubts about i ...
Monday, 30 December 19
INDIA'S COAL IMPORTS RISE 4% TO 161.43 MT IN APRIL-NOVEMBER 2019 - PTI
The country’s coal imports registered an increase of 4.4 per cent to 161.43 million tonnes (MT) in the April-November period of the ongoing f ...
Sunday, 29 December 19
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Sunday, 29 December 19
IMO 2020 COMPLIANCE: IT'S UP TO US TO BE GOOD CITIZENS - IBIA
One of the concerns around implementation of the 0.50% sulphur limit has been, and continues to be, the need for effective enforcement to ensure a ...
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Showing 1216 to 1220 news of total 6871 |
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- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Minerals Council of Australia
- Economic Council, Georgia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
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