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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, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Parliament of New Zealand
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
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