Market Report, "United Arab Emirates Oil & Gas Report Q3 2012", published

2012-09-02 16:23:19 - Fast Market Research recommends "United Arab Emirates Oil & Gas Report Q3 2012" from Business Monitor International, now available

BMI View: Despite persistent risks surrounding Iran and the threat to the Straits of Hormuz (shared with the UAE), the UAE is facing a strong overall outlook for its oil and gas sector on the back of sustained investment in both domestic production and increased import availability. Enhanced oil recovery schemes and investment from both IOCs and NOCs underscore our bullish outlook for the UAE's oil sector.

We highlight the following trends and developments in the UAE's oil and gas sector:

* BMI sees proven oil reserves declining from 96.7bn barrels (bbl) in 2011 to just over 91bn bbl by 2016, with gas reserves also falling from 6trn cubic metres (tcm) to around 5.8tcm over the same period.
* We see

oil production rising to over 3.2mn barrels per day (b/d) by 2016 and nearly 3.5mn b/d by 2021, supported by re-development of mature fields, the deployment of enhanced oil recovery (EOR) and investment from IOCs and NOCs.
* Gas production will get a big mid-decade boost from the start-up of the Shah sour gas project. By 2016, we see output of around 66bn cubic metres (bcm), rising to 74bcm by 2021.
* The country is committed to long-term LNG supply agreements with several countries (primarily Japan), and simultaneously imports gas via pipeline from Qatar. Abu Dhabi's Mubadala Development Company is planning a new LNG terminal in Fujairah, outside the Persian Gulf, which will have 12bcm of import capacity on its opening in 2014.
* A major ongoing sour gas project should help boost domestic production of gas, as consumption doubles in the period 2010-2020. The US$10bn Shah sour gas project will add 9,8bcm of gas capacity when it comes onstream in 2015.
* Liberalisation of fuel prices is unlikely in the short term, owing to the government largesse following political unrest across the Middle East and North Africa (MENA) region in 2011. Fuels distribution in the UAE will therefore remain a loss-making proposition.

Full Report Details at
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The UAE will remain vulnerable to fluctuations in the price of oil, though its medium-term crude output levels should remain at the current rates for a sustainable period. One unknown is the impact of rising gas consumption: the expansion in both sour gas processing capacity and increased LNG import capabilities could lead to a significant rise in gas demand.

Partial Table of Contents:

SWOT Analysis
- UAE Oil and Gas SWOT
Global Energy Market Outlook
- Table: Oil Production Forecasts, 2010-2016 ('000 b/d)
- Table: Oil Consumption Forecast, 2010-2016 ('000 b/d)
Regional Energy Market Outlook
United Arab Emirates Energy Market Overview
- Table: UAE - Upstream Projects
Industry Forecast Scenario
- Table : Oil & Gas - Historical Data & Forecasts, 2009-2016
- Table : Oil & Gas - Long-Term Forecasts, 2014-2021
- Oil and Gas Reserves
- Oil Supply and Demand
- Gas Supply And Demand
- LNG
- Refining And Oil Products Trade
- Revenues/Import Costs
- Key Risks To BMI's Forecast Scenario
Oil and Gas Infrastructure
- Oil Refineries
- Table: Refineries In The UAE
- Oil Pipelines
- LNG
- Table: LNG Export Terminals in the UAE
- Gas Pipelines
Regional and Country Risk/Reward Ratings
- Table: BMI O&G Risk/Reward Ratings
- Table: BMI Upstream Risk/Reward Ratings
- Table: BMI Downstream Risk/Reward Ratings
- UAE Upstream Rating - Overview
- UAE Upstream Rating - Rewards
- UAE Upstream Rating - Risks
- UAE Downstream Rating - Overview
Competitive Landscape
- Executive Summary
- Table: Key Domestic And Foreign Companies In The UAE's Oil And Gas Sector
- Overview/State Role
- Licensing And Regulation
- Government Policy
- International Energy Relations
- Table: Key Upstream Players
- Table: Key Downstream Players
Company Monitor
- Abu Dhabi National Oil Company (ADNOC)
- Dolphin Energy
- Emirates General Petroleum Corporation (Emarat)
- Emirates National Oil Company (ENOC)
- ExxonMobil
- BP - Summary
- Rosneft - Summary
- Total - Summary
- Royal Dutch Shell - Summary
- Korea National Oil Corporation - Summary
- Dana Gas - Summary
- Occidental Petroleum - Summary
- Japan Oil Development Company (JODCO) - Summary
- Cosmo Oil - Summary
- Abu Dhabi National Energy Company (TAQA) - Summary
- CNPC - Summary
- RAK Petroleum - Summary
Middle East - Regional Appendix
- Table: Oil Consumption - Historical Data & Forecasts, 2009-2016 ('000b/d)
- Table: Oil Consumption - Long-Term Forecasts, 2014-2021 ('000b/d)
- Table: Oil Production - Historical Data & Forecasts, 2009-2016 ('000b/d)
- Table: Oil Production - Long-Term Forecasts, 2014-2021 ('000b/d)
- Table : Refining Capacity - Historical Data & Forecasts, 2009-2016 ('000b/d)
- Table: Refining Capacity - Long-Term Forecasts, 2014-2021 ('000b/d)
- Table: Gas Consumption - Historical Data & Forecasts, 2009-2016 (bcm)
- Table: Gas Consumption - Long-Term Forecasts, 2014-2021 (bcm)
- Table: Gas Production - Historical Data & Forecasts, 2009-2016 (bcm)
- Table: Gas Production - Long-Term Forecasts, 2014-2021 (bcm)
- Table: Net LNG Exports - Historical Data & Forecasts, 2009-2016 (bcm)
- Table: Net LNG Exports - Long-Term Forecasts, 2014-2021 (bcm)
Methodology And Risks To Forecasts
Glossary Of Terms
Oil And Gas Risk/Reward Ratings Methodology
- Ratings Overview
- Table: BMI's Oil & Gas Business Environment Ratings - Structure
- Indicators
- Table: BMI's Oil & Gas Upstream Ratings - Methodology
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Full Table of Contents is available at:
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