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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, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
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