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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, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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Showing 36 to 40 news of total 6871 |
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
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