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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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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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- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- The University of Queensland
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- White Energy Company Limited
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
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