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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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Tuesday, 14 November 17
COAL STOCKS RUN SHORT, CENTRE TO GET DAILY UPDATE ON STOCKS - DECCAN CHRONICLE
Facing a shortage of coal for thermal power generation in the country, the Central Electricity Authority (CEA) has issued guidelines for maintainin ...
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 hi ...
Monday, 13 November 17
THERMAL COAL PRICES WERE RELATIVELY UNCHANGED - DANIEL HYNES
Coal prices were broadly higher, driven by strong gains in the metallurgical coal market said Daniel Hynes, Senior Commodity Strategist at ANZ in h ...
Monday, 13 November 17
THIESS AWARDED $300M SANGATTA EXPANSION CONTRACT
Thiess has been awarded a $300 million contract by Kaltim Prima Coal (KPC) to expand operations at Sangatta coal mine in East Kalimantan, Indonesia ...
Friday, 10 November 17
U.S. COAL OUTPUT FOR THE FIRST 10 MONTHS OF 2017 IS ESTIMATED AT AROUND 656 MMST; UP10% YOY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15 million short tons ...
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Showing 1881 to 1885 news of total 6871 |
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- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Planning Commission, India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
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