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Sunday, 20 January 19
OIL MARKET REPORT: A MARATHON, NOT A SPRINT - IEA
 Last month, we asked if there was a floor under prices following the signing of a new Vienna Agreement that aims to re-balance the oil market. Following an initial burst of enthusiasm for the deal, scepticism set in, alongside worries about the global economic background. Prices fell by $10/bbl with Brent crude oil bottoming out on 24 December at just above $50/bbl. For the producers, this was unwelcome, but for consumers it provided a nice present for the holidays. In the US Gulf Coast, gasoline prices in early January averaged $1.89/gal versus the summer peak of $2.79/gal and in India, prices are about 14% below the early October peak. Recently, leading producers have restated their commitment to cut output and data show that words were transformed into actions. In December, OPEC production fell by almost 600 kb/d and Saudi Arabia has signalled that, for its part, further significant cutbacks will take place in January and beyond.
The Brent price has moved back above $60/bbl, so the answer to our question posed last month seems to be a qualified yes, at least for now. However, the journey to a balanced market will take time, and is more likely to be a marathon than a sprint. While Saudi Arabia is determined to protect its price aspirations by delivering substantial production cuts, there is less clarity with regard to its Russian partner. Data show that Russia increased crude oil production in December to a new record near 11.5 mb/d and it is unclear when it will cut and by how much. Other non-OPEC countries joining in the output deal saw higher output, including Mexico.
Elsewhere, there are signs that market re-balancing will be gradual. The trajectory of Iran’s production and exports remains important. In December, total exports increased slightly to over 1.3 mb/d. With US waivers allowing Iran’s major customers to buy higher volumes than was previously thought, more oil will remain in the market in the early part of 2019. Venezuela has seen the collapse of its oil industry slow during the second half of 2018 with production falling recently by about 10 kb/d each month rather than by the 40 kb/d we saw earlier in the year. The level of output in the world’s biggest liquids producer, the United States, will once again be a major factor in 2019. We saw incredible and unexpected growth in total liquids production of 2.1 mb/d in 2018. For this year, we have left unchanged for now our forecast for growth of 1.3 mb/d. While the other two giants voluntarily cut output, the US, already the biggest liquids supplier, will reinforce its leadership as the world’s number one crude producer. By the middle of the year, US crude output will probably be more than the capacity of either Saudi Arabia or Russia.
For oil demand, there is a mixed picture. Falling prices in 4Q18 helped consumers and there are signs that trade tensions might be easing. In many developing countries, lower international oil prices coincide with a weaker dollar as the likelihood of higher US interest rates fades for now. However, the mood music in the global economy is not very cheerful. Confidence is weakening in several major economies. In the short term, there is added uncertainty about oil demand due to the onset of the northern hemisphere winter season, with low temperatures seen in the past few days in many places. For now, we retain our view that demand growth in 2018 was 1.3 mb/d, and this year it will be slightly higher at 1.4 mb/d, mainly due to average prices being below year-ago levels.
In the meantime, refiners face a challenging year. Processing capacity will increase by 2.6 mb/d, the biggest growth for four decades, while margins are already pressured by low gasoline cracks due to oversupply and weak demand. The well-trailed changes to the International Maritime Organisation’s marine fuel regulations due in 2020 are another big issue for some refiners as they seek to find outlets for unwanted high sulphur fuel oil. By the end of the year, all industry players, upstream and downstream, may feel as if they have run a marathon.
Source: IEA
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Monday, 04 November 19
COAL INDIA'S OCTOBER PRODUCTION MAY FALL 20% - PTI
Coal India’s production in October is likely to be 19-20 per cent lower at about 40 million tonne, as compared to 49.77 million tonne produce ...
Monday, 04 November 19
PANAMAX: WEAKER SENTIMENTS CONTINUED FROM LAST WEEK, WITH RATES FURTHER SOFTENING IN BOTH BASINS - BALTIC BRIEFING
Capesize
The Capesize market meandered slightly upwards this week before giving back much of its gains mid-week. Opening the week at $24,945, t ...
Thursday, 31 October 19
U.S. COAL-FIRED POWER PLANTS SCHEDULED TO SHUT - REUTERS
U.S. power companies expect to retire or convert from coal to gas over 13,800 megawatts (MW) of coal-fired plants in 2019 after shutting over 13,30 ...
Thursday, 31 October 19
SE ASIA MAY BECOME NET FOSSIL FUEL IMPORTER IN COMING YEARS - IEA
Southeast Asia is set to become a key driver of world energy trends over the next 20 years as its energy demand grows at twice the global average, ...
Monday, 28 October 19
ULTRAMAX: ASIA RATES REMAINED UNDER PRESSURE WITH THE NORTH LACKING FRESH ENQUIRY - BALTIC BRIEFING
Capesize
The end of the week brought about a small increase in sentiment heading into a long weekend for some regions. After sustaining a drop ...
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Showing 1296 to 1300 news of total 6871 |
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- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Planning Commission, India
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- White Energy Company Limited
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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