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