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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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Sunday, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy.
...
Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...
Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...
Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
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- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Planning Commission, India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
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