The 3 Most Important Numbers in Energy
The Insider’s weekly run-down of critical figures and happenings from around the energy world.
42%. Monthly increase in India’s coal imports, according to industry analysts Interocean.
The big jump includes a 36% rise in thermal coal imports, as compared to February. Along with a 63% increase in metallurgical coal shipments.
The numbers confirm the trend of significantly rising coal imports into India. An important observation, as coal prices globally have been moderating. This strong demand however, could put a floor under the market—and perhaps set the stage for a notable recovery.
6.5 million tonnes. Amount that Indonesian state utility PT Perusahaan Listrik Negara (PLN) expects its coal use to rise in 2014.
PLN forecast this week that its total coal demand will hit 78.5 million tonnes this year. An important figure given the rising demand for coal globally—as discussed above.
Indonesia has been one of the few nations able to ramp up export supply to places like India. But more coal being used domestically could limit the amount the nation can ship abroad.
The impact could be particularly significant when combined with recently-announced coal production restrictions from the Indonesian government. And low prices, which are seeing many producers struggle to turn a profit.
92,905. National oil production of Pakistan during March, in barrels per day.
The mark was an all-time high in output for the country’s petroleum industry. Suggesting that the sector here may finally be getting some traction in drilling and bringing new fields on line.
E&Ps have long recognized Pakistan’s potential. But a difficult political situation and limited services sector held back many field developments.
From the looks of last month’s data, those troubles may now be over. Perhaps signaling the opening of a new frontier for exploration.