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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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- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Parliament of New Zealand
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
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