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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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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
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Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
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