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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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- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Planning Commission, India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
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