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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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Sunday, 08 January 23
ELEVATED COAL PRICE A DRAG ON MARGINS OF DOMESTIC BASE METAL PLAYERS: ICRA
The increased price of coal continue to be a drag on the margin of domestic base metal players with no immediate relief in sight, rating agency ICR ...
Monday, 02 January 23
CHINA’S COAL CONSUMPTION TO PEAK BY 2035: REPORT - REUTERS
China’s primary energy consumption is likely to peak at nearly 6.03 billion tonnes of standard coal between 2030 and 2035, refining giant Chi ...
Thursday, 29 December 22
INDIA'S COAL DEMAND LIKELY TO PEAK BETWEEN 2030-2035: MINISTER - ANI
The demand for coal in India will continue and is likely to peak between 2030-2035, Union Minister of Coal, Mines, and Parliamentary Affairs Pralha ...
Thursday, 29 December 22
RIO TINTO AND PARTNERS COULD RECEIVE AS MUCH AS $450M IN GOVERNMENT COMPENSATION FOR COAL PRICE CAP - THE GUARDIAN
Compensation payments for the Gladstone power plant remain the sticking point in the federal government’s coal price cap compensation negotia ...
Wednesday, 28 December 22
MARKET INSIGHT - INTERMODAL
The United Nations Conference on Trade and Development (UNCTAD) published a Global Trade Update on December 13th highlighting that global trade wou ...
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- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
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