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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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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
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Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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Showing 11 to 15 news of total 6871 |
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- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
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