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Wednesday, 14 February 18
HISTORY REPEATING ITSELF? - IEA
 This month’s OMR is abbreviated to allow time for us to complete our annual five-year outlook that will be published in our report Oil 2018 on 5 March. Meanwhile, new and revised data shows a modest tightening of the balance in the early part of 2018, but the main message remains unchanged from last month and it is very clear: in 2018, fast rising production in non-OPEC countries, led by the US, is likely to grow by more than demand. For now, the upward momentum that drove the price of Brent crude oil to $70/bbl has stalled; partly due to investors taking profits, but also as part of the corrections we have seen recently in many markets. Most importantly, the underlying oil market fundamentals in the early part of 2018 look less supportive for prices.
Our demand growth estimate for 2017 remains strong at 1.6 mb/d, reinforced by November data for the US. For 2018, the more positive global economic picture published by the International Monetary Fund is a key factor in raising our growth outlook to 1.4 mb/d. It was thought that the significant increase in the dollar price of crude oil since the middle of 2017 would dampen growth, and this might be the case to some extent, but the impact of higher prices has been partly offset in some countries by currency appreciations.
It is clear that strong demand growth in 2017, alongside a modest increase last year in non-OPEC output, and the cuts made by leading producers, has contributed to the extraordinarily rapid fall in OECD oil stocks. A year ago, they were 264 mb above the five-year average and now they are only 52 mb in excess of it, with stocks of oil products actually below the benchmark. Although the OECD is not the whole world, the leading oil producers who agreed to cut output identified the level of the group’s stocks as an indicator of the progress of their initiative. With the surplus having shrunk so dramatically, the success of the output agreement might be close to hand. This, however, is not necessarily the case: oil price rises have come to a halt and gone into reverse, and, according to our supply/demand balance, so might the decline in oil stocks, at least in the early part of this year.
The main factor is US oil production. In just three months to November, crude output increased by a colossal 846 kb/d, and will soon overtake that of Saudi Arabia. By the end of this year, it might also overtake Russia to become the global leader. All the indicators that suggest continued fast growth in the US are in perfect alignment; rising prices leading, after a few months, to more drilling, more completions, more production, and more hedging. In early 2018, the situation is reminiscent of the first wave of US shale growth that, riding the tide of high oil prices in the early years of this decade, made big gains in terms of market share and eventually in 2014 forced a historic change of policy by leading producers. Today, having cut costs dramatically, US producers are enjoying a second wave of growth so extraordinary that in 2018 their increase in liquids production could equal global demand growth. This is a sobering thought for other producers currently sitting on shut-in production capacity and facing a renewed challenge to their market share. Another sobering thought is that it is not just a matter of production: trade patterns are changing. Recently we read of a shipment of condensate from the US to the UAE. Such a development would have seemed incredible a few years ago, now it looks like the shape of things to come.
The components of the oil market balance are dynamic and a lot can change in the next few months: the deteriorating situation in Venezuela is one obvious candidate, and the apparent buoyancy of the global economy could deliver higher demand growth than we currently anticipate. As a result, prices could be maintained at recent levels even as US production rises. If so, most producers will be happy, but if not, history might be repeating itself.
Source: IEA
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Friday, 02 March 18
ANGLO AMERICAN COMPLETES SALE OF ESKOM-TIED THERMAL COAL OPERATIONS IN SOUTH AFRICA
Anglo American plc (“Anglo American”) confirms completion of the sale of its Eskom-tied domestic thermal coal operations in South Afric ...
Friday, 02 March 18
MORE COAL INQUIRES FROM SOUTH AFRICA TO INDIA; SUPRAS FIXED CA $12K + BB - FEARNLEYS
Supramax
Better rates in Atlantic, but not too busy market just yet.
Black Sea catched improving rates for grain cargoes, where supras to Eg ...
Friday, 02 March 18
U.S. WEEKLY COAL PRODUCTION DOWN 2.7 PER CENT W/E 24 FEB, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Wednesday, 28 February 18
INDIA: TEPID COAL TRAFFIC TO HIT VOLUME GROWTH AT PORTS TILL 2022 - PTI
Cargo growth at the country’s major ports is all set to moderate to 3-5 per cent per annum over the next five years due to the “sedate ...
Wednesday, 28 February 18
MARKET INSIGHT - LINOS KOGEVINAS
US Shale production continues to grow rapidly, hitting new records and with projections being revised upwardly at every turn. According to the Inte ...
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Showing 1791 to 1795 news of total 6871 |
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- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Indika Energy - Indonesia
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- The University of Queensland
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
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