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Friday, 16 October 15
INDONESIA REJOINING OPEC DESPITE BEING A NET IMPORTER OF PETROLEUM - EIA
.jpg) The Organization of the Petroleum Exporting Countries (OPEC) notified Indonesia that it plans to accept the country's request to reactivate its membership at the next OPEC meeting in December.
According to EIA, once it rejoins, Indonesia will regain its status as the only Asian member of OPEC and the only member that is a net importer of petroleum and other liquids.
OPEC, founded in 1960, currently has 12 members, but membership has always been fluid—Ecuador suspended its membership in 1992 and rejoined in 2007; Gabon joined in 1975 and terminated its membership in 1995.
Indonesia originally joined OPEC in 1962 but suspended its membership at the beginning of 2009. OPEC does allow for associate membership, but currently all 12 members are full members.
EIA further says, Indonesia's decision to suspend its OPEC membership was prompted by growing internal demand for energy, declining crude oil and condensate production in mature fields, and limited investment to increase production capacity. Indonesia had become a net importer of petroleum and other liquids by 2004 after domestic demand exceeded production, as Indonesia's production of petroleum and other liquids has been on a general decline since the mid-1990s. Indonesia produced about 790,000 barrels per day (b/d) of crude oil and condensates in 2014, the third-lowest level among OPEC countries.
According to OPEC's statute, the organization allows as a member any country that is a substantial net crude oil exporter, has similar interests to the organization, and is accepted by three-fourths of the full members. Although Indonesia is a net oil importer, the country continues to export crude oil and condensates. Because Indonesia is an archipelago, geographic distances between its domestic oil production and demand centers encourage both imports and exports. Despite its growing oil demand, Indonesia's oil and natural gas sectors continue to be an important part of the country's economy. Indonesia imports oil products, particularly gasoline, as a result of insufficient refining capacity to meet the growing demand for oil products.
Indonesia said that rejoining OPEC will strengthen its cooperation with oil-producing countries, provide greater access to crude oil supplies, and allow the country to be a link between energy producers and consumers. Indonesia currently buys crude oil and petroleum products through third parties or traders and wants direct access to long-term crude oil supply contracts through negotiations made between the national oil companies of OPEC members.
Indonesia anticipates more crude oil imports will be needed to meet domestic demand from refining capacity additions. Indonesia is planning a number of upgrades and expansions to existing refineries slated to become operational within the next decade. Indonesia has also proposed to build four new refineries, each having a capacity of 300,000 b/d. Because Indonesia struggles with the level of investment needed to offset oil and natural gas production declines and a lack of adequate infrastructure, it hopes to attract investment in both its upstream and downstream sectors from OPEC members. Indonesia is currently in discussions with several OPEC countries about crude oil supply deals and investments in refinery projects
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Thursday, 15 October 15
Q1' 16 FOB RICHARDS BAY COAL SWAP ADVANCED 2 PER CENT WEEK OVER WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gain week over week and declined month over month.
The Q4 swap was dow ...
Tuesday, 13 October 15
DRY BULK SHIPPING FLEET NET EXPANSION WAS 1.3% DURING THIRD QUARTER, BUT ORDERBOOK REDUCED TO 17% OF THE TRADING FLEET
If the dry bulk market is to rebound on a sustainable level, it needs to limit the tonnage expansion, at least until demand picks up again, as Chin ...
Tuesday, 13 October 15
FOB NEWCASTLE COAL SWAP DECLINED 2 PER CENT MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $0.46 per ton (1.08%) month over month to US$ 42.17 per ton. The ...
Monday, 12 October 15
CFR SOUTH CHINA COAL SWAPS GAIN W-W; SLIGHTLY DOWN M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US cents 3 (0.06 %) per ton month over month.
A commodity ...
Monday, 12 October 15
DRY BULK SHIPPING: MARKETS ARE SLOWLY IMPROVING FROM A VERY LOW LEVEL AS THE DEMAND SIDE FALTERS - HELLENIC SHIPPING NEWS
The dry bulk market is in the midst of a shift in demand patterns, which coupled with a tonnage supply overhang, has been facing headwinds over the ...
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- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- The University of Queensland
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
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