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Wednesday, 27 June 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
 After the abolishment of the trade embargo against Iran, there was a lot of optimism from the country’s side, as after quite some time a number of companies started demonstrating interest for oil and gas investments there.
The start was rather encouraging as in January 2016, with production increasing from 2.8 million barrels per day to 3.5 million barrels per day, reaching 3.83 million barrels per day in August 2017. High field pressure was temporary and production was not maintained at high levels.
Additionally, it is worth mentioning that crude oil exports increased from 2.5 million barrels per day in October 2016 to 2.61 million barrels per day in April 2018. This however was caused due to stored oil and not from new production, which would have been the ideal case.
During the 2010-2016 period, there were already many oil fields that had started entering the maturity phase and could not maintain satisfactory pressure to pump oil. So when the sanctions were first introduced, things became even tighter for the country. NIOC could not find a way to maintain fields at a solid productive capacity. Together with the fact that the oil revenue was declining, NIOC was eventually obligated to shutter oil wells in multiple fields due to lack of required funding.
What I would like to highlight here is that even before Trump’s sanctions, Iran found it difficult to approach foreign investors and companies to work together with NIOC.
What Iran really required once the sanctions were lifted was foreign investment and foreign expertise to revamp its oil and gas production infrastructure. As a means of enticing foreign companies to invest and work in Iran, the country’s Oil Minister, Bijan Namdar Zangeneh, sought to offer new oil contracts with more lucrative terms compared to those prior to the sanctions. Nevertheless, those new contracts never materialized.
Post Trump’s sanctions
When the new sanctions arrived in May 2018, Total, the only foreign oil company that had actively pursued investment in Iran, announced that it would drop the project on the South Pars 11 gas field.
In contrast to the above, we noticed a rare export from Khrag island to Chile after 16 years according to refineries’ records; (MT “MONTE TOLEDO” 140 NHC 24 MAY KHARG/CHILE).
Spain's Repsol purchased 500,000 barrels of Pars Oil on a spot basis. Pars Oil, co-loaded with Iranian heavy grade is a new grade produced in the West Karoun block. This specific trade shows Tehran’s willingness not only to raise oil exports but also to expand trade with Europeans.
To conclude, Iran is expected to focus on the improvement of its oil production as well as continue seeking new business allies in order to survive the newly introduced sanctions form the U.S. At the same time European powers are also expected to keep supporting Iranian oil exports and continue purchasing Iranian crude, simply because they wish to keep the nuclear accord with Tehran alive.
By Apostolos Rompopoulos
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Tuesday, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...
Sunday, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy.
...
Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...
Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...
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- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
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