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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, 19 December 19
BANGLADESH'S NBR CUTS VAT ON COAL IMPORT FOR POWER PLANTS - THE DAILY STAR
The National Board of Revenue (NBR) reduced value added tax on the import of coal for power plants to 5 percent from present 15 percent for five ye ...
Wednesday, 18 December 19
AVERAGE PRICES OF COAL IN 2018 WERE MORE THAN 60% HIGHER THAN IN 2016 - IEA
Coal use grew again in 2018.
Global coal demand increased by 1.1%, continuing the rebound that began in 2017 after three years of decline ...
Wednesday, 18 December 19
ASIA IS SET TO SUPPORT GLOBAL COAL DEMAND FOR THE NEXT FIVE YEARS - IEA
Press Release: Global coal demand is expected to decline in 2019 but remain broadly stable over the next five years, supported by robust growth in ...
Wednesday, 18 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we all know very well by now, the reduction in the maximum allowable sulphur content of marine fuels in 2020 is likely to have a massive impact ...
Tuesday, 17 December 19
AUSTRALIA ENERGY MARKET OPERATOR TURNS SCROOGE ON COAL LOBBY: RUSSELL
Australia, which vies with Indonesia for the title of the world’s largest coal exporter, is planning for an electricity future where use of t ...
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- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Planning Commission, India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Australian Coal Association
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
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