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.
|
|
Monday, 18 May 20
THERMAL COAL SPOT PRICE TUMBLES 25 PER CENT, PUTTING PRESSURE ON SOME PRODUCERS - ABC RURAL
The spot price for thermal coal has fallen 25 per cent per cent in the past month with one leading analyst saying it is because of a reduction in d ...
Monday, 18 May 20
CHINA'S COAL OUTPUT UP 1.3 PCT IN JANUARY-APRIL: XINHUA
Output of raw coal in China rose 1.3 percent year on year to 1.15 billion tonnes in the first four months this year, official data showed.
&nbs ...
Sunday, 17 May 20
A 55,000 OPEN ILIGAN FIXING AT $6,500 VIA INDONESIA REDELIVERY INDIA - BALTIC BRIEFING
Capesize
A precipitous fall in the market this week had the Capesize 5TC shedding over 50 per cent in value. A small rebound at the end of the ...
Friday, 15 May 20
CHINA'S COAL CONSUMPTION TO FALL Y/Y IN SECOND QUARTER, IMPROVEMENT EXPECTED IN SECOND HALF - INDUSTRY BODY: REUTERS
China’s coal consumption is expected to decline in the second quarter from a year earlier, but will see an improvement in the second half of ...
Thursday, 14 May 20
OPEC REVISES DOWN GLOBAL OIL DEMAND FORECAST AGAIN
Crude Oil Price Movements
Crude oil prices recorded a second sharp monthly drop in April, amid an increasing oil surplus in the spot market. Th ...
|
|
|
Showing 961 to 965 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- MS Steel International - UAE
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- The University of Queensland
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
|
| |
| |
|
