We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
|
|
|
Showing 31 to 35 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Parliament of New Zealand
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
|
| |
| |
|
