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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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Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
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- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- White Energy Company Limited
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Planning Commission, India
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
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