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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
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Tuesday, 23 May 23
INDIA: COAL OUTPUT UP 8.9%, SUPPLY RISES 11.7% IN APRIL - FINANCIAL EXPRESS
India’s coal production jumped 8.85% to 73.14 million tonne (MT) in April 2023 and the total coal despatch during the month went up 11.66% to ...
Tuesday, 23 May 23
CHINA COAL OUTPUT UP 4.5 PCT IN APRIL - XINHUA
China’s raw coal output posted stable expansion in April, official data showed.
The country produced 380 million tonnes of raw ...
Saturday, 20 May 23
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
In 2022, non-OPEC supply is estimated to have increased by 1.9 mb/d y-o-y. Out of this, US liquids production increased by 1.2 mb/d, mainly on the ...
Saturday, 20 May 23
GLOBAL COAL TRADE HAS REALLY PICKED UP PACE IN RECENT MONTHS, NOW FULLY BACK TO PRE-COVID LEVELS - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In Jan-Apr 2023, total global seaborne coa ...
Saturday, 20 May 23
MARKET INSIGHT - INTERMODAL
India is one of the world's largest coal producers and one of the world's largest importers of coal. The country uses coal mainly for power ...
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Showing 101 to 105 news of total 6871 |
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- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
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