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Tuesday, 05 December 17
OIL PRICES HAVE GAINED SOME TRACTION THESE PAST FEW DAYS ON TALKS OF ANOTHER OPEC & RUSSIA PRODUCTION CUT EXTENSION - GERRY LATHROP
 Oil prices have gained some traction these past few days on talks of another OPEC (including non-OPEC Russia) production cut extension.
The current production cut schedule prior to OPECs meeting this past week, was supposed to last until March 2018, however it has come to light that it will now be extended until the end of 2018, in an attempt to prop up prices as many of OPEC’s members continue to feel strain from the low earnings generated by crude oil sales said Gerry Lathrop, Research Analyst at Allied shipping.
Gerry Lathrop further noted, what’s more is that Saudi Arabia, OPEC leading member, has to deal with ARAMCO’s planned IPO in 2018, which could greatly benefit from the higher crude oil prices. At the same time and in order for the Saudi Government to meet their government budget requirements and reduce their reliance on their cash reserves, are looking at a price target of around US$ 60 per barrel. This is contrary to Russia’s stance who would prefer oil prices to remain lower, and apparently would prefer a target of US$ 40 per barrel at the off chance that higher prices cause the US’s shale oil producers to head to the fields again. In addition to this, OPEC members Libya and Nigeria, who were previously exempt from production cuts, have now agreed to also cap production at their 2017 levels.
This of course can have a profound effect on the shipping side, where the mere talks of a production cut has oil traders rushing to their desks to close their next deal. In short, if oil prices start to show a trend of further price gains, oil traders and refiners will rush to book cargoes, so they can price their end products on competitive level and possibly benefit from a better profit margin, increasing demand in the crude market in the very short-term. In the long-term, if the price of oil also goes up, it is likely to dampen overall demand and cause a potential slowdown in trade. This negative effect however tends to be limited given that crude oil has fairly inelastic demand.
According to Gerry Lathrop of Allied, on the non-OPEC side of things, crude oil production in the US has hit a new record production level of 9.7 million barrels per day on average for the week ending November 17th, according to statistics from the US EIA. Similarly, crude oil imports from Venezuela to the Louisiana Offshore Oil Platform (LOOP) for the period of January to November 2017 are around 7 million barrels, which is almost 3 times as much as what we were seeing during the same time frame last year (2.5 million bbls). The main reason for importing so much Venezuelan crude seems to be mainly due to the lack of availability of Saudi Arabian heavy/sour crude resulting from their production cuts. According to US customs data, imports from Saudi are down 45% from 75 million barrels to 42 million barrels for the same 10-month period. This has undoubtedly caused much of the softening in the crude tanker market of late by removing many ton miles from the market.
In any case, it will be interesting to see which direction the market will trend come June of next year, as the tug of war continues between Russia’s stance on lower crude prices and Saudi’s preference for higher prices. We will probably see the price fall somewhere in between these respective price targets during most of 2018, while if prices increases above Saudi’s US$ 60 per barrel, a relatively swift ramp up in US shale oil production should help quickly push things back down. This points to the main risk by both OPEC and Russia, with any further cost efficiencies achieved by US shale producers allowing them to capture a higher market share and even make these production cuts irrelevant to the overall market.
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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
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Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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Showing 11 to 15 news of total 6871 |
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- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- India Bulls Power Limited - India
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- The University of Queensland
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Australian Coal Association
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
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