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Tuesday, 23 January 18
OIL MARKET ANALYSIS - ALLIED
 Brent oil futures hit a three year high on January 16th touching around USD 70.30 before falling back down to around USD 68.60 at the Time of this publication, the former figure being the highest it has seen since December 2014.
According to Allied's Research Analyst Gerry Lathrop, this has been in part due to the weakened US dollar, a massive decrease in the total global crude storage, as well as the highest rate of OPEC conformity to their oil production cuts, which was announced this past week in the Joint Ministerial Monitoring Committee (JMMC), in Muscat, Oman. The committee is made up of OPEC and non-OPEC member states, and although its primary goal was not to discuss further production cuts, the question was on the table as to whether they would continue their plan through to 2019.
The answer to that is very much like a social media relationship status, “Its Complicated”. As previously mentioned, oil prices are hovering around a 3-year high, having increased by at least 10% since OPEC’s last meeting in Vienna this past November, and more than 50% from 6 months ago.
On the supply side, Gerry Lathrop said, the number of US oil rigs in 2017 and 2018 reached a new high, surpassing the number of rigs operating in 2016, and leading to a 16% rise in US oil production which peaked at around 9.75m b/d. The International Energy Agency on Friday raised its forecast for US production growth to 1.35m b/d for this year, making up by far the biggest chunk of supply growth outside of OPEC countries. The IEA then went on to say, US crude production is on course to overtake Saudi Arabia and rival Russia, as it made an upward revision on its 2018 growth forecast and stressed that “explosive” expansion in shale was offsetting OPEC-led supply cuts. The IEA, which is the latest body to raise US estimates, following the US energy department’s statistics arm and OPEC’s own research unit, has said: “This year promises to be a record-setting one for the US.”US growth of nearly 1.4m barrels a day, to a record 10.4m b/d, will help propel non-OPEC supply by 1.7m barrels a day in 2018 (Total output from outside the cartel is forecast to reach 59.8m b/d), dwarfing the level of supply cuts in OPEC crude output.
Gerry Lathrop further commented, but it's not all smooth sailing for people in the downstream oil market, the recent OPEC-led rally in crude prices is hitting refinery profits hard, flashing warning signs over oil’s Bull Run. Higher oil prices typically quench consumption and squeeze profit margins at refiners that convert the feedstock into products. Benchmark profit margins in key refining hubs dropped sharply in recent weeks - by over 50% in the U.S. Gulf Coast and northwest Europe, Reuter's data shows - increasing expectations that some refiners will reduce operating rates. However, a wave of refinery maintenance scheduled in spring could eventually put a downward pressure on crude itself. According to the IMF’s most recent upward revisions on its estimates for global economic growth, we are currently witnessing some of the strongest growth figures in years and these (relatively) low oil prices could well boost global oil consumption by a further 1.3m b/d this year, a number the IEA acknowledges is “conservative” compared with other forecasts. Others have predicted demand growth could approach 2m b/d this year, more than double the rate of 2011-2014. Given the above, 2018 could well prove to be the turning point in the tanker market that all of us have been hoping for or at least the spark that sets it in motion.
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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.
...
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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- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Australian Coal Association
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
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