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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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Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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Showing 41 to 45 news of total 6871 |
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- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- White Energy Company Limited
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- MS Steel International - UAE
- The University of Queensland
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Deloitte Consulting - India
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