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Thursday, 19 March 20
A CRUDE TSUNAMI: UP TO 3 MILLION BPD OF EXTRA OIL CAN HIT THE MARKET FROM APRIL, MORE COMING IN MAY - RYSTAD ENERGY
 The extra oil coming into the global market from April will be as much as 3 million barrels per day (bpd), Rystad Energy estimates. Two million bpd is what OPEC+ countries are realistically able to add next month based on their storage, spare capacity and ramp up capabilities. Another million bpd could come if a cease-fire is agreed upon in Libya and the country reaches pre-shut-in levels.
The additional product comes at a time when there is an existing global supply surplus. Before the OPEC+ meeting earlier this month, Rystad Energy had calculated that cuts of about 2 million bpd were needed to balance the market.
Since then, the world’s global demand has also seen a steep decline as flight cancellations, industrial shutdowns, quarantines and travel bans have further reduced the need for oil consumption by many more millions of bpd, widening the imbalance that already existed before the OPEC+ meeting.
The oil price is soon expected to slide even lower once the extra supply becomes available from April. But that’s not the end of it, as OPEC+ could add another 800,000 barrels of oil from May, ramping up production from its spare capacity even further.
Separately, Libya itself could make use of more of its total production capacity in a cease-fire scenario, which is as high as 2.8 million bpd. The country’s current output is less than 100,000 barrels per day due to the ongoing conflict.
“Any large political power sometimes needs to remind its adversaries and competitors of its might. We believe Saudi Arabia seeks to teach the market a lesson,” says Bjørnar Tonhaugen, Rystad Energy’s Head of Oil Markets.
There is a risk of production shut-ins as the world’s oil storage capabilities will be put to the test, with oil’s spot price subsequently collapsing, Tonhaugen adds, in which case countries with higher break-even prices will be the first to be affected.
Breaking down the additional oil production capability of the OPEC+ countries, Saudi Arabia will be the producer that plans to add the most, reaching total supply capabilities of 12.3 million bpd. We believe their upstream crude production capacity, without any additional drilling, is limited to around 11.5 million bpd in the short term.
For now, we expect the country’s April crude production to rise to between 10.8 million and 11 million bpd from 9.8 million bpd in February, and further to 11.2 million bpd in May. The remaining oil could come from its global storage facilities, in order to meet the 12.3 million bpd target.
We expect that Russia can increase production by at least 300,000 bpd in the next 90 days, according to guidance provided by Energy Minister Alexander Novak, but for now we include a more conservative increase of about 200,000 bpd in our estimates.
We expect UAE production to increase by about 200,000 bpd to 3.20 million bpd in April from February’s 3.04 million bpd, mostly from its flagship Murban onshore field. We acknowledge that the UAE could manage to increase production even higher if it utilizes its entire spare capacity.
A 110,000-bpd increase is also expected from Kuwait in April, raising its total production to 2.80 million bpd, with less upside risk than for UAE, Russia and Saudi Arabia.
The last major country with ample available spare capacity to potentially bring to the market in April is Iraq. Based on our analysis, Iraq will ramp-up production by 250,000 bpd to nearly 4.9 million bpd in April. If Iraq finds buyers for this additional crude, its total spare capacity of 480,000 bpd could be back online by June.
Source: Rystad Energy
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Wednesday, 26 February 20
AS ALL OF THE GLOBAL COAL GIANTS EXIT SOUTH AFRICA, ESKOM TO DEPEND ON TWO MINERS FOR 70% OF ITS SUPPLY - BUSINESS INSIDER
While some of its politicians continue to imagine that coal has a future in South Africa, two key developments from the real world show that securi ...
Tuesday, 25 February 20
DELTA DUNIA MAKMUR REGISTERED A NET PROFIT OF US$20 MILLION FOR FY 2019
PT Delta Dunia Makmur, one of the largest coal mining company in Indonesia, has recorded an US$882 million revenue for FY 2019, 1% lower compared t ...
Tuesday, 25 February 20
SHIPPING UPDATE - ALLIED
The positive feeling and optimism for a fresh rally during the first few months of 2020 that prevailed in the tanker markets during the final quart ...
Monday, 24 February 20
COULD SOME VLSFO FUELS BE BANNED? - GIBSON
The run up to the implementation of the new IMO rules on marine fuels from1st January 2020 had owners and charterers analysing the vari ...
Monday, 24 February 20
CHINA SAYS MAJOR COAL FIRMS RESTORE 95% OF PRODUCTION CAPACITY - REUTERS
China’s coal companies controlled by the central government have resumed operations and are back at more than 95% of their capacity, an offic ...
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Showing 1106 to 1110 news of total 6871 |
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- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Indian Energy Exchange, India
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