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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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Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Minerals Council of Australia
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
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