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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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Tuesday, 27 February 18
SHELL SEES POTENTIAL LNG SUPPLY SHORTAGE AS GLOBAL DEMAND SURGES
Media Release: The global liquefied natural gas (LNG) market has continued to defy expectations of many market observers, with demand growing by 29 ...
Saturday, 24 February 18
CHINA BECOMES WORLD'S SECOND LARGEST LNG IMPORTER, BEHIND JAPAN - EIA
China surpassed South Korea to become the world’s second-largest importer of liquefied natural gas (LNG) in 2017, according to data from IHS ...
Friday, 23 February 18
ESTIMATED U.S. WEEKLY COAL PRODUCTION UP 2.8 PER CENT W/E 17 FEB' 18 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.6 million short tons ...
Thursday, 22 February 18
WHY THE COMMODITY RALLY WILL GET BACK ON TRACK - SIMON FLOWERS
Implications for the US dollar and producers
Are we in the early stages of a sustained rise in commodity prices? And what does it mean for the ...
Thursday, 22 February 18
PANAMAX: IT HAS BEEN A SLOW AND UNEVENTFUL WEEK - FEARNLEYS
Supramax
Slight improvement from Atlantic with more hope for upcoming weeks. More grain cargoes from Black Sea made fhaul rates better again $17- ...
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Showing 1796 to 1800 news of total 6871 |
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- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Australian Coal Association
- CNBM International Corporation - China
- VISA Power Limited - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- The University of Queensland
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
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