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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, 23 May 23
INDIA: COAL OUTPUT UP 8.9%, SUPPLY RISES 11.7% IN APRIL - FINANCIAL EXPRESS
India’s coal production jumped 8.85% to 73.14 million tonne (MT) in April 2023 and the total coal despatch during the month went up 11.66% to ...
Tuesday, 23 May 23
CHINA COAL OUTPUT UP 4.5 PCT IN APRIL - XINHUA
China’s raw coal output posted stable expansion in April, official data showed.
The country produced 380 million tonnes of raw ...
Saturday, 20 May 23
GLOBAL COAL TRADE HAS REALLY PICKED UP PACE IN RECENT MONTHS, NOW FULLY BACK TO PRE-COVID LEVELS - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In Jan-Apr 2023, total global seaborne coa ...
Saturday, 20 May 23
MARKET INSIGHT - INTERMODAL
India is one of the world's largest coal producers and one of the world's largest importers of coal. The country uses coal mainly for power ...
Sunday, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
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Showing 101 to 105 news of total 6871 |
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- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
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