We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Monday, 25 May 20
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
 Non-OPEC oil supply continued to increase by 2.0 mb/d in 2019, driven by US shale production, which rose by 1.7 mb/d, amounting to 84% of total non-OPEC supply growth. This growth came despite pipeline constraints in the Permian basin in 1H19, and as independent oil companies began to reduce spending in response to investor demands to raise free cash flow. With regard to infrastructure, Canada also suffered from limited pipeline and storage capacity, which led to a mandate to curtail oil sands production by the Alberta provincial government. Liquids production in Brazil, Australia, Russia and China also contributed to the gains, while part of this growth was offset by heavy declines in Mexico and Norway.
Capital expenditure, including exploration capex in non-OPEC countries, reached a record high of US$741 bn in 2014 when oil price levels were also high. However, in the years that followed and with lower average oil prices, investment dropped to considerably lower levels in 2016. Moreover, since the beginning of the renewed decline in oil prices in 4Q18, the amount of capex has also decreased to US$459 bn in 2019. Capex in 2020 is forecast to show a y-o-y decline of 23%, according to preliminary estimations, which is only approximately half of level of capex in 2014. The COVID-19 pandemic, which began in 1Q20 has spread globally in a matter of a couple of months, has caused a recession in the global economy as well as an unprecedented oil demand shock, leading to large oversupply in the oil market.
In response to this sudden and huge market imbalance, OPEC and the 10 non-OPEC participants in the Declaration of Cooperation (DoC), decided to adjust down their combined current production by 9.7 mb/d in May and June 2020, to be followed by a combined reduction of 7.7 mb/d in 2H20 and by 5.8 mb/d for a period of 16 months, from 1 January 2021 to 30 April 2022. Furthermore, on 12 May 2020, Saudi Arabia, the UAE and Kuwait announced that they would voluntarily deepen oil output adjustments from June, by 1 mb/d, 100 tb/d and 80 tb/d, respectively, in an effort to expedite draining a global supply glut and rebalancing the oil market. Outside of the DoC, other non-OPEC producers, particularly US producers, reduced their production by shutting-in producing wells or adjusting down the rate of production. According to different sources and company announcements, US producers – including oil majors – have so far cut production by at least 1.5 mb/d in 2Q20, which is likely to be achieved by shut-ins of higher-cost wells, partial reductions in output of selected wells and the deferral of “putting on production” wells.
Additionally, 2020 oil production in Canada, particularly Alberta’s bitumen and synthetic crude, is forecast to decline by 0.4 mb/d on an annual basis, on reduced upstream capex of the main operators and shut-ins/curtailment announcements of around 1.0 mb/d.
Globally, outside of the DoC, as of 6 May 2020, around 3.6 mb/d of production cuts have so far been announced in response to the lack of demand, low oil prices, excess supply and limited storage capacity. With this, non-OPEC supply in 2020 is expected to see a deep contraction of 3.5 mb/d mainly in the US, Russia and Canada, as only few countries will to show some supply growth in 2020 such as Norway, Brazil, Guyana and Australia.
The speedy supply adjustments in addressing the current acute imbalance in the global oil market has already started showing positive response, with rebalancing expected to pick up faster in the coming quarters.
Source: OPEC
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
|
|
|
Showing 81 to 85 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Economic Council, Georgia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Australian Coal Association
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
|
| |
| |
|
