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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, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- MS Steel International - UAE
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- The Treasury - Australian Government
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