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Tuesday, 14 November 17
IN 2018, WORLD OIL DEMAND IS FORESEEN REACHING 1.51 MB/D - OPEC
 Oil Market Highlights - OPEC
The OPEC Reference Basket averaged $55.50/b in October, gaining $2.06 over the previous month and reaching the highest value in more than two-and-a-half years, with a year-to-date average of $50.68/b. Crude futures also reached levels not seen since mid-2015. ICE Brent ended $2.13 higher at $57.65/b, while NYMEX WTI increased $1.72, reaching $51.59/b, keeping the Brent-WTI spread above $6/b. Prices have been supported by rising global demand data and expectations that major producing nations will extend a deal to adjust output and bring the oil market to a balance. Hedge funds raised net long positions in NYMEX WTI and ICE Brent futures and options by 29,456 and 21,592 contracts, respectively, to 281,244 and 530,237 lots. Brent and Dubai remained in backwardation, while the WTI contango eased. Sweet/sour differentials narrowed in Asia and Europe, but widened on the US Gulf Coast.
World Economy
The global economic growth dynamic has continued its momentum, with the forecast for 2017 revised up to 3.7%, from 3.6% in last month’s report. Similarly, the 2018 forecast has been adjusted higher as well to stand at 3.7%, compared to 3.5% in the previous month. Particularly OECD economic growth in 2017 was better than expected so far. The OECD is seen growing by upwardly revised 2.3% in 2017 and 2.2% in 2018. Good momentum – and a potential tax reform – in the US, the ongoing dynamic in the Euro-zone and to some extent in Japan, solid growth in China and India and an improving situation in Russia and Brazil are supporting the growth trend in the short-term.
World Oil Demand
World oil demand growth is expected to rise by 1.53 mb/d in 2017 after an upward adjustment of 74 tb/d to account for the better-than-expected performance of China in 3Q17. In 2018, world oil demand is foreseen reaching 1.51 mb/d, around 130 tb/d higher than in the previous assessment.
World Oil Supply
Non-OPEC oil supply is now projected to grow by 0.65 mb/d y-o-y in 2017, representing a downward revision of 0.02 mb/d from last month’s report. For 2018, growth in non-OPEC oil supply has also been revised down by 0.07 mb/d to stand at 0.87 mb/d. OPEC NGLs and non-conventional liquids are expected to grow by 0.18 mb/d in 2018, following an increase of 0.17 mb/d in 2017. In October 2017, OPEC crude oil production decreased by 151 tb/d, according to secondary sources, to average 32.59 mb/d.
Product Markets and Refining Operations
Product markets in the Atlantic Basin weakened in October due to seasonally-lower gasoline demand following the end of US driving season. Nonetheless, US refining margins have exhibited some improvement y-o-y on the back of firm product demand and amid low stock levels. In Europe, solid middle-of-the-barrel demand offset weakness at the top and bottom. Product markets in Asia also weakened slightly, but remained at healthy levels, supported by the onset of refinery maintenance.
Tanker Market
Sentiment in the dirty tanker market generally strengthened in October, as freight rates for different classes showed improvements on most major trading routes. Average dirty tanker spot freight rates rose 16% compared to the previous month, on the back of improved seasonal tonnage demand, as well as port and weather delays, among other factors. Despite healthy gains in October, the shipping market remains in surplus, capping further increases in spot freight rates. Meanwhile, clean tanker freight rates experienced a relative decline, although remaining above the levels of the same month last year.
Stock Movements
Total OECD commercial oil stocks fell in September to stand at 2,985 mb. At this level, OECD commercial oil stocks are 154 mb above the latest five-year average. Crude and products stocks indicated a surplus of around 129 mb and 25 mb, respectively, above the seasonal norm. In terms of days of forward cover, OECD commercial stocks stood at 62.3 days in September, some 1.9 days higher than the latest five-year average.
Balance of Supply and Demand
Based on the current global oil supply/demand balance, OPEC crude in 2017 is estimated at 33.0 mb/d, around 0.71 mb/d higher than in 2016. OPEC crude in 2018 is estimated at 33.4 mb/d, about 0.46 mb/d higher than in 2017.
Source: OPEC
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Thursday, 16 November 17
KOMIPO INVITED BIDS FOR 3.9 MILLION TONS OF 5700 NAR AND 5400 NAR COAL FOR 2018 - 2020 DELIVERY
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 3,900,000 Metric Tons of min. 570 ...
Thursday, 16 November 17
THE PORT OF NEWCASTLE HAS SHIPPED 14.94 PERCENT LESS COAL IN OCTOBER 2017, DATA SHOWS
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1,466.8 ...
Thursday, 16 November 17
GOVERNMENT, 13 COAL MINERS AGREE TO CHANGE CONTRACTS - JP
The government and 13 coal mining companies have agreed to change the old Contract of Work (CoW), as part of the implementation of Law No. 4/20199 ...
Wednesday, 15 November 17
IEA RECOGNISES COAL'S CONTINUOUS IMPORTANCE TO GLOBAL ENERGY NEEDS - WCA
The World Coal Association (WCA) has welcomed the International Energy Agency’s (IEA) recognition that coal will continue to play a vital rol ...
Wednesday, 15 November 17
THERMAL COAL WAS DRAGGED DOWN BY THE WEAKNESS ACROSS THE WIDER ENERGY SECTOR - DANIEL HYNES
The coal market was mixed.
Thermal coal was dragged down by the weakness across the wider energy sector, said Daniel Hynes Senior Commodi ...
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Showing 1876 to 1880 news of total 6871 |
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- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
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