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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
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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Mjunction Services Limited - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Australian Coal Association
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