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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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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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Showing 76 to 80 news of total 6871 |
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Economic Council, Georgia
- The University of Queensland
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
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