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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, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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Showing 36 to 40 news of total 6871 |
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- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Planning Commission, India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
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