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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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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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Showing 51 to 55 news of total 6871 |
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- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- The Treasury - Australian Government
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
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