We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 19 March 20
A CRUDE TSUNAMI: UP TO 3 MILLION BPD OF EXTRA OIL CAN HIT THE MARKET FROM APRIL, MORE COMING IN MAY - RYSTAD ENERGY
 The extra oil coming into the global market from April will be as much as 3 million barrels per day (bpd), Rystad Energy estimates. Two million bpd is what OPEC+ countries are realistically able to add next month based on their storage, spare capacity and ramp up capabilities. Another million bpd could come if a cease-fire is agreed upon in Libya and the country reaches pre-shut-in levels.
The additional product comes at a time when there is an existing global supply surplus. Before the OPEC+ meeting earlier this month, Rystad Energy had calculated that cuts of about 2 million bpd were needed to balance the market.
Since then, the world’s global demand has also seen a steep decline as flight cancellations, industrial shutdowns, quarantines and travel bans have further reduced the need for oil consumption by many more millions of bpd, widening the imbalance that already existed before the OPEC+ meeting.
The oil price is soon expected to slide even lower once the extra supply becomes available from April. But that’s not the end of it, as OPEC+ could add another 800,000 barrels of oil from May, ramping up production from its spare capacity even further.
Separately, Libya itself could make use of more of its total production capacity in a cease-fire scenario, which is as high as 2.8 million bpd. The country’s current output is less than 100,000 barrels per day due to the ongoing conflict.
“Any large political power sometimes needs to remind its adversaries and competitors of its might. We believe Saudi Arabia seeks to teach the market a lesson,” says Bjørnar Tonhaugen, Rystad Energy’s Head of Oil Markets.
There is a risk of production shut-ins as the world’s oil storage capabilities will be put to the test, with oil’s spot price subsequently collapsing, Tonhaugen adds, in which case countries with higher break-even prices will be the first to be affected.
Breaking down the additional oil production capability of the OPEC+ countries, Saudi Arabia will be the producer that plans to add the most, reaching total supply capabilities of 12.3 million bpd. We believe their upstream crude production capacity, without any additional drilling, is limited to around 11.5 million bpd in the short term.
For now, we expect the country’s April crude production to rise to between 10.8 million and 11 million bpd from 9.8 million bpd in February, and further to 11.2 million bpd in May. The remaining oil could come from its global storage facilities, in order to meet the 12.3 million bpd target.
We expect that Russia can increase production by at least 300,000 bpd in the next 90 days, according to guidance provided by Energy Minister Alexander Novak, but for now we include a more conservative increase of about 200,000 bpd in our estimates.
We expect UAE production to increase by about 200,000 bpd to 3.20 million bpd in April from February’s 3.04 million bpd, mostly from its flagship Murban onshore field. We acknowledge that the UAE could manage to increase production even higher if it utilizes its entire spare capacity.
A 110,000-bpd increase is also expected from Kuwait in April, raising its total production to 2.80 million bpd, with less upside risk than for UAE, Russia and Saudi Arabia.
The last major country with ample available spare capacity to potentially bring to the market in April is Iraq. Based on our analysis, Iraq will ramp-up production by 250,000 bpd to nearly 4.9 million bpd in April. If Iraq finds buyers for this additional crude, its total spare capacity of 480,000 bpd could be back online by June.
Source: Rystad Energy
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
|
|
|
Showing 1 to 5 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Planning Commission, India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
|
| |
| |
|
1 