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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 back of light tight oil production and increased NGLs output from non-conventional basins. US light tight crude production increased by 0.5 mb/d, with the Permian constituting the main source of growth, increasing by 0.6 mb/d, supported by a relatively lower breakeven price and higher drilling rig activities, while output in the Bakken and Eagle Ford declined. Liquids supply in Russia rose by around 230 tb/d. Canada, Guyana, China, Brazil and Oman also contributed to production growth in 2022. These developments were partially offset by supply declines totalling around 0.5 mb/d, mainly from Norway, Thailand and the UK.
Capital spending for oil and gas exploration and production (E&P) in non-OPEC countries increased by US$72 bn y-o-y in 2022 to US$431 bn. It is expected to rise by around 10% y-o-y in 2023. On a country level, E&P spending for 2023 is forecast to increase in Norway, Brazil, the US and Canada by 26%, 15%, 12%, and 8%, y-o-y, respectively. The year 2022 proved to be an extraordinary period for the energy market, with most oil and gas companies witnessing healthy profits. However, the ratio of investment to cash from operations was exceedingly low, since many international oil companies continue to focus on capital discipline to improve their balance sheets. Overall investment levels for non-OPEC supply in 2023 are expected to be just above pre-pandemic levels. However, this is still significantly below the high of US$747 bn in 2014.
For 2023, non-OPEC liquids supply is forecast to grow by 1.4 mb/d y-o-y. There remains substantial uncertainty, however, regarding geopolitical developments in Eastern Europe and the potential impact on Russian oil supply. Moreover, US liquids supply developments will continue to hinge on the degree of capital discipline employed by companies and the extent to which cost inflation impacts oil production. Liquids’ output in the OECD is expected to increase by 1.5 mb/d y-o-y in 2023, mainly on the back of production increases in the US, Norway and Canada. US crude oil and condensate production is anticipated to grow by 0.7 mb/d, with NGLs and biofuel production also expected to rise. In the US, the oil rig count has rebounded from 490 units in January 2022 to 591 units in the last week of April 2023. Moreover, US core oil frac operations continue to stay above 1,000, on a monthly basis. Canadian oil production, particularly Alberta’s oil sands, is forecast to grow by 0.2 mb/d y-o-y in 2023. Production growth in the North Sea and OECD Europe countries is also projected at around 0.2 mb/d, mainly supported by the ramp-up of the second phase of Norway’s Johan Sverdrup field development.
In the non-OECD region, Latin America is forecast to be the key driver for liquids supply. Output in the region is set to increase by 0.4 mb/d y-o-y in 2023, mainly from five offshore startups in Brazil and stable production at the Liza FPSOs in Guyana. Liquids output in Kazakhstan and China is also expected to rise y-o-y, by around 110 tb/d and 70 tb/d, respectively.
Uncertainties to the forecast remain large, especially given ongoing geopolitical developments in Eastern Europe. Moreover, high inflation levels, coupled with supply chain issues and monetary tightening by major central banks may also impact the cost of oil production and upstream sector investment levels. Given the uncertainties ahead, OPEC Member Countries and countries participating in the Declaration of Cooperation (DoC) will continue to closely monitor market developments over the remainder of the year, to help safeguard a stable and balanced market for the benefit of both consumers and producers.
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
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 ...
Sunday, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
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Showing 101 to 105 news of total 6871 |
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- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Australian Coal Association
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- White Energy Company Limited
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
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