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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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Wednesday, 21 February 18
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
2017 proved to be a relatively good year with positive margins for the Dry Bulk market. Especially during the last quarter of the year everyone can ...
Tuesday, 20 February 18
INDIA: COAL IMPORT RISES BY 12 PER CENT TO 18 MILLION TONNES IN JANUARY - PTI
The country’s coal import increased by 12.4 per cent to 18.49 million tonnes (MT) in January, against 16.
44 MT in the same month of the ...
Monday, 19 February 18
JOINT INSURANCE - WHY SHOULD YOU CARE? - SKULD
KNOWLEDGE TO ELEVATE
It is neither controversial nor new to say that co-assureds under a joint insurance policy cannot claim against each othe ...
Friday, 16 February 18
U.S. WEEKLY COAL OUTPUT DOWN 4.5 PER CENT WEEK OVER WEEK, 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 ...
Thursday, 15 February 18
INDIA: THERMAL POWER PLANTS UNDER STRESS ON RISING COAL, FREIGHT COSTS - BUSINESS STANDARD
Coal-based power plants are feeling the heat of spike in thermal grade coal prices and railway freight costs.
Prices of thermal grade coal sin ...
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Showing 1801 to 1805 news of total 6871 |
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- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- The University of Queensland
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
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