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Saturday, 20 May 23
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
 In 2022, non-OPEC supply is estimated to have increased by 1.9 mb/d y-o-y. Out of this, US liquids production increased by 1.2 mb/d, mainly on the back of light tight oil production and increased NGLs output from non-conventional basins. US light tight crude production increased by 0.5 mb/d, with the Permian constituting the main source of growth, increasing by 0.6 mb/d, supported by a relatively lower breakeven price and higher drilling rig activities, while output in the Bakken and Eagle Ford declined. Liquids supply in Russia rose by around 230 tb/d. Canada, Guyana, China, Brazil and Oman also contributed to production growth in 2022. These developments were partially offset by supply declines totalling around 0.5 mb/d, mainly from Norway, Thailand and the UK.
Capital spending for oil and gas exploration and production (E&P) in non-OPEC countries increased by US$72 bn y-o-y in 2022 to US$431 bn. It is expected to rise by around 10% y-o-y in 2023. On a country level, E&P spending for 2023 is forecast to increase in Norway, Brazil, the US and Canada by 26%, 15%, 12%, and 8%, y-o-y, respectively. The year 2022 proved to be an extraordinary period for the energy market, with most oil and gas companies witnessing healthy profits. However, the ratio of investment to cash from operations was exceedingly low, since many international oil companies continue to focus on capital discipline to improve their balance sheets. Overall investment levels for non-OPEC supply in 2023 are expected to be just above pre-pandemic levels. However, this is still significantly below the high of US$747 bn in 2014.
For 2023, non-OPEC liquids supply is forecast to grow by 1.4 mb/d y-o-y. There remains substantial uncertainty, however, regarding geopolitical developments in Eastern Europe and the potential impact on Russian oil supply. Moreover, US liquids supply developments will continue to hinge on the degree of capital discipline employed by companies and the extent to which cost inflation impacts oil production. Liquids’ output in the OECD is expected to increase by 1.5 mb/d y-o-y in 2023, mainly on the back of production increases in the US, Norway and Canada. US crude oil and condensate production is anticipated to grow by 0.7 mb/d, with NGLs and biofuel production also expected to rise. In the US, the oil rig count has rebounded from 490 units in January 2022 to 591 units in the last week of April 2023. Moreover, US core oil frac operations continue to stay above 1,000, on a monthly basis. Canadian oil production, particularly Alberta’s oil sands, is forecast to grow by 0.2 mb/d y-o-y in 2023. Production growth in the North Sea and OECD Europe countries is also projected at around 0.2 mb/d, mainly supported by the ramp-up of the second phase of Norway’s Johan Sverdrup field development.
In the non-OECD region, Latin America is forecast to be the key driver for liquids supply. Output in the region is set to increase by 0.4 mb/d y-o-y in 2023, mainly from five offshore startups in Brazil and stable production at the Liza FPSOs in Guyana. Liquids output in Kazakhstan and China is also expected to rise y-o-y, by around 110 tb/d and 70 tb/d, respectively.
Uncertainties to the forecast remain large, especially given ongoing geopolitical developments in Eastern Europe. Moreover, high inflation levels, coupled with supply chain issues and monetary tightening by major central banks may also impact the cost of oil production and upstream sector investment levels. Given the uncertainties ahead, OPEC Member Countries and countries participating in the Declaration of Cooperation (DoC) will continue to closely monitor market developments over the remainder of the year, to help safeguard a stable and balanced market for the benefit of both consumers and producers.
Source: OPEC
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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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Showing 51 to 55 news of total 6871 |
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- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
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