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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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Thursday, 24 May 18
SUPRAS FIXING AROUND USD 15000 FOR INDO TO CHINA COAL TRIPS - FEARNLEYS
Capesize
Both the physical and the paper market have dropped sharply the last couple of days on the back of a lack of fresh cargoes and a growing ...
Thursday, 24 May 18
FITCH: FALLING COAL INVESTMENT TO SUPPORT ASIAN PRICES
Press Release: The long-term outlook for the Asian thermal coal prices is improving, amid rising regional demand and falling mining investment, whi ...
Thursday, 24 May 18
BEIJING ORDERS UTILITIES, MINERS TO HELP COOL RED-HOT COAL MARKET: SOURCES - REUTERS
China’s state planner ordered utilities this week to stop stockpiling thermal coal and told miners to slash prices, two sources familiar with ...
Wednesday, 23 May 18
TANKER MARKET INSIGHT - TIMOS PAPADIMITRIOU
In the last six months we have seen more than 110 reported tanker transactions involving tonnage larger than 32k dwt and younger than 18 years old. ...
Friday, 18 May 18
AFTER COAL, INDONESIAN GOVERNMENT PUSHES DMO ON GAS FOR ELECTRICITY
After introducing its domestic market obligation (DMO) policy for coal on March 12, the government is going forward with its plan to introduce a DM ...
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Showing 1716 to 1720 news of total 6871 |
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- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Australian Coal Association
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
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