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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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Tuesday, 15 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country's Co ...
Sunday, 13 October 19
INDONESIA: PANAMAX VESSELS OPEN SOUTH CHINA WERE REPORTEDLY FIXED AT $14,000 LEVEL, WITH REDELIVERY BACK IN CHINA - BALTIC BRIEFING
Capesize
The Capesize market managed to find a floor and rally a little this week after several weeks of declines. While the West Australia to ...
Friday, 11 October 19
INDIAN MINERS REJECT PLAN TO LINK NATIONAL COAL INDEX TO FOREIGN PRICES - REUTERS
India’s miners are rejecting a government proposal to establish a national coal index that would be linked to international prices, documents ...
Friday, 11 October 19
THE OCTOBER BENCHMARK PRICE OF INDONESIAN THERMAL COAL DECLINES TO LOWEST SINCE OCTOBER 2016
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Friday, 11 October 19
KOREA SOUTH-EAST POWER TO IMPORT LCV COAL IN NOVEMBER
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for 75,000 Metric Tons low calorific v ...
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Showing 1316 to 1320 news of total 6871 |
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- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
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