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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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Wednesday, 25 December 19
EXHAUST GAS CLEANING SYSTEMS (SCRUBBER) GUIDANCE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In a few weeks, IMO’s ‘global sulphur cap’ will take effect. The permitted levels of SOx in ship emissi ...
Wednesday, 25 December 19
INDONESIAN BUKIT ASAM TARGETS TO MINE 30 MLN T OF COAL IN 2020 - REUTERS
Indonesian state-owned coal miner PT Bukit Asam targets to produce around 30 million tonnes of coal in 2020, compared with an estimate of 28.5 mill ...
Wednesday, 25 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As another year in the shipping industry is coming to an end, it is interesting to look at the dry bulk and tanker markets and how these performed ...
Monday, 23 December 19
VLSFO PRICING & AVAILABILITY NEEDS CAREFUL WATCHING - INTEGR8 FUELS
As we approach January 1st 2020 , the VLSFO price premium to HSFO has widened considerably
We are clearly well into the IMO 2020 transition; ch ...
Sunday, 22 December 19
NMDC DIVERSIFIES INTO COAL MINING - THE HINDU
Iron ore mining major NMDC has been allocated two coal blocks in Jharkhand for commercial mining by the Union Ministry of Coal.
Both ...
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Showing 1226 to 1230 news of total 6871 |
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- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
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