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Thursday, 26 December 19
REVIEW OF 2019 AND OUTLOOK FOR 2020 - OPEC
 Global economic growth slowed in 2019, impacted by a variety of challenges. Trade issues not only led to reduction in global final consumption but also caused investment growth to decelerate. On the positive side, global trade slowdown has likely bottomed out, and now the negative trend in industrial production seen in 2019 is expected to reverse in 2020. As a result, global economic growth is forecast at 3.0% for both 2019 and 2020.
Recent progress on various trade agreements such as the conclusion of the Regional Comprehensive Economic Partnership of Asian-Pacific nations may provide the base to re-energize the momentum in global trade, although challenges remain, particularly regarding ongoing trade talks between the US and its trade partners, particularly China.
While global monetary policies continue to be accommodative, high debt levels in many major economies represent some risk. Additional challenges are posed by fiscal issues in few EU Member Countries, Brexit, and Japan’s ongoing slowdown. Fiscal imbalances in emerging and developing economies may also have a negative effect on global economic growth, while recent social unrest in some economies may add more downward pressure.
Global oil demand is projected to rise by 0.98 mb/d in 2019, mainly due to cooling macro-economic indicators in major economies. Oil demand in the OECD is projected to grow by a marginal 0.02 mb/d in 2019, due to slowerthan-expected demand in the Americas and Asia Pacific. Weaker-than-expected diesel requirements in the US amid the slower pace in manufacturing and construction activity have limited demand growth in the current year. In Asia Pacific, significant petrochemical plant turnarounds reduced demand for petrochemical feedstock in 1H19. In non-OECD oil demand in 2019 is anticipated to rise by 0.96 mb/d, primarily as a result of slower-than-expected demand in India due to reduced industrial and transportation fuel requirements in 2Q19 and 3Q19. In 2020, global oil demand is expected to grow by 1.08 mb/d, with the OECD growing by 0.07 mb/d. OECD Americas is anticipated to be the only OECD region in positive demand growth territory next year, supported mainly by petrochemical capacity additions. In the non-OECD region, oil demand growth is projected to be around 1.01 mb/d, with growth projected to improve in Other Asia, Latin America and the Middle East. Indeed, the transportation and petrochemical sectors are expected to continue leading oil demand growth in 2020.
On the supply side, non-OPEC oil supply growth in 2019 has been lower than initial market expectations, now standing at 1.82 mb/d compared to the initial projection of 2.10 mb/d in July 2018. Weaker-thanexpected growth in Canada, Brazil, Norway, Kazakhstan, China and Russia has been the key contributor to the downward revision, despite the betterthan-expected performance of US liquids supply. US oil output is leading this growth with 1.62 mb/d in 2019. In 2020, non-OPEC supply is expected to see a continued slowdown in growth on the back of decreased investment and lower drilling activities in US tight oil. Non-OPEC supply is now forecast to grow by 2.17 mb/d in 2020, representing a downward revision of around 0.27 mb/d from initial forecasts in July 2019 on the back of downward revisions in US oil supply. Nevertheless, Graph 2: World oil demand and non-OPEC supply revisions from initial forecast in 2019 and 2020 incremental production from the US tight plays, particularly in the Permian Basin, as well as from offshore fields in Norway, Brazil, Australia and possibly Guyana, will contribute to the non-OPEC supply in 2020.
Evidently, significant and successful effort of countries participating in the Declaration of Cooperation (DoC) have helped the global oil market to remain relatively balanced in 2019. Going forward, countries participating in the DoC reaffirmed their continuing commitment to oil market stability as they have decided this month to adjust production further by another 500 tb/d, adding to the previous adjustment of 1.2 mb/d, and now totalling to 1.7 mb/d as of January 2020. This is to stabilize the market in the interests of both consumers and producers, as well as the wellbeing of the global economy.
Source: OPEC
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Sunday, 29 December 19
AUSTRALIA SUFFERS WORST OF CHINA'S COAL CURBS AFTER EARLIER BOOM - BLOOMBERG
Australia is bearing the brunt of China’s year-end coal import restrictions, ceding market share to other exporters including Russia and Mong ...
Saturday, 28 December 19
SUPRAMAX: A 63,000DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
Capesize
The Capesize market this past week has been attempting to recalibrate itself in consideration of weakening freight levels and increasing ...
Saturday, 28 December 19
CHINESE INDUSTRIAL CITY TO FURTHER CUT COAL CONSUMPTION - XINHUA
Harbin, capital city of Heilongjiang Province in China’s northeastern industrial heartland, is planning to further reduce its coal consumptio ...
Friday, 27 December 19
MISERY LOOMS OVER TOP COAL SHIPPERS AS CHINA TO BUY LESS IN 2020 BLOOMBERG
China isn’t cutting back on consumption of the most-polluting fossil fuel just yet, but it is set to reduce imports.
The world ...
Wednesday, 25 December 19
COVER FOR WAR AND TERRORISM RISKS, AND COVER IN RESPECT OF BIOLOGICAL AND BIO-CHEMICAL WEAPONS - 2020 POLICY YEAR: AMERICAN CLUB
KNOWLEDGE TO ELEVATE
This Circular describes the arrangements which have been made to provide special cover for war and terrorism risks, and c ...
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Showing 1221 to 1225 news of total 6871 |
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- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Parliament of New Zealand
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- The University of Queensland
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
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