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Monday, 14 October 19
WINTER OIL MARKET OUTLOOK - OPEC
 Product markets in the last two months have benefitted from seasonal maintenance which have led to a tighter product market environment, providing some support to product crack spreads and refining margins. With most refineries now back online in all main regions, refinery intakes have risen steadily, to stand some 1.0 mb/d higher in September compared to the same month last year.
As a result of new refining capacity over the last year, refinery runs during winter are likely to reach new record highs, leading to potentially higher supply in the product markets. At the same time, economic headwinds pointing to a slowdown in manufacturing in the OECD may result in a possible decline in consumption of heavier fuels, weighing on the outlook for product markets over the winter season, while increased competition from ethane and LPG may also bite into demand for products including naphtha and transport fuels. In the US, gasoil consumption is expected to receive support from the manufacturing, construction and freight sectors.
Moreover, a seasonal pick up in heating oil demand this winter is expected, despite increasing substitution by natural gas. Jet fuel markets should also remain supported by an uptick in travel activities, particularly in the holiday season. In contrast, the seasonal decline in gasoline demand in the winter months will once again weigh on prices and ultimately refining economics (Graph 1). This may result in higher gasoline exports in 4Q19 to prevent strong inventory builds and to keep gasoline prices stable. Naphtha crack spreads will also come under pressure and suffer losses as strong LPG output, and lower LPG prices in the US continues to compete with naphtha.
US oil demand growth by main petroleum products, mb, y-o-y change In Europe, the slowdown in transportation fuel demand will continue representing a challenge to product markets. Despite a slight pick-up in gasoline consumption in 1H19, mainly in France, unfavourable economic fundamentals have dampened demand in Germany. Moreover, a mild pick up in gasoline powered vehicle sales observed in France, Italy and Spain has been offset by a decline in overall car sales. The pressure in Europe’s product markets could be further exacerbated by new cracking and other upgrading projects in Russia and Belarus, which is projected to increase regional transport fuel production by the end of 2019.
Furthermore, data reflects a declining trend in product demand in the fourth quarter, particularly for naphtha and residual fuel. In Asia, gasoil markets will remain supported by industrial and transportation demand. However, product balances will most likely soften compared with the previous year, once all refineries restore their operation activities in 4Q19, resulting in excess product supply, particularly for gasoline. Concerning the IMO 2020, a combination of declining heavy crude availability, increased refinery conversion capacity, growing appetite for heavy crude, and stricter sulphur limits on marine bunker fuel are likely to lead to rising prices for low sulphur fuel oil (LSFO). At the same time, the declining availability of high sulphur fuel oil (HSFO) could also hold up prices for that product to some degree.
Together with a mismatch in terms of quality between available and required crude slates for refinery intake, this could provide limited support to processing rates as refineries will have to resort to higher intakes to boost fuel oil or compliant marine fuel production. Graph 2: OECD Europe oil demand growth by main petroleum products, mb, y-o-y change Looking ahead, factors such as the onset of the winter season, healthy demand for middle distillates in Asia, and preparations for IMO should support middle-to-heavy product markets in the coming months. At the same time, uncertainties regarding the global economic outlook, declining car sales and fuel substitution programmes in Europe, and higher products supply from Asia could limit the upward trend in the product markets this winter.
Source: OPEC
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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
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Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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Showing 11 to 15 news of total 6871 |
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- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
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