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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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Sunday, 29 December 19
AUSTRALIA SUFFERS WORST OF CHINA'S COAL CURBS AFTER EARLIER BOOM - BLOOMBERG
Australia is bearing the brunt of China’s year-end coal import restrictions, ceding market share to other exporters including Russia and Mong ...
Saturday, 28 December 19
SUPRAMAX: A 63,000DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
Capesize
The Capesize market this past week has been attempting to recalibrate itself in consideration of weakening freight levels and increasing ...
Saturday, 28 December 19
CHINESE INDUSTRIAL CITY TO FURTHER CUT COAL CONSUMPTION - XINHUA
Harbin, capital city of Heilongjiang Province in China’s northeastern industrial heartland, is planning to further reduce its coal consumptio ...
Friday, 27 December 19
MISERY LOOMS OVER TOP COAL SHIPPERS AS CHINA TO BUY LESS IN 2020 BLOOMBERG
China isn’t cutting back on consumption of the most-polluting fossil fuel just yet, but it is set to reduce imports.
The world ...
Wednesday, 25 December 19
COVER FOR WAR AND TERRORISM RISKS, AND COVER IN RESPECT OF BIOLOGICAL AND BIO-CHEMICAL WEAPONS - 2020 POLICY YEAR: AMERICAN CLUB
KNOWLEDGE TO ELEVATE
This Circular describes the arrangements which have been made to provide special cover for war and terrorism risks, and c ...
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Showing 1221 to 1225 news of total 6871 |
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- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- The University of Queensland
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- PTC India Limited - India
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
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