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