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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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- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- White Energy Company Limited
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
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