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Recently released market study: Kuwait Oil & Gas Report Q4 2012

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2012-12-02 16:01:52 - Recently published research from Business Monitor International, "Kuwait Oil & Gas Report Q4 2012", is now available at Fast Market Research

BMI View: Kuwait's rise in output will be relatively slow and steady, and we forecast the country producing 3.5mn barrels per day (b/d) by 2021. However, as the domestic economy grows, a substantial rise in oil consumption will reduce the oil that is available for the export market. We forecast a faster increase in gas production in the second half of our 10-year forecast period, with output going above 16bcm in 2020. Kuwait will remain a net gas importer and refined products exporter.

We highlight these trends and developments in Kuwait's oil & gas sector:

* BMI forecasts Kuwaiti oil production rising from an estimated 2.5mn b/d in 2011 to 2.9mn b/d by 2016, then over 3.5mn b/d by 2021. The

country's northern oilfields in particular offer potential for significant growth in the years ahead.
* The advance of Project Kuwait, an ambitious scheme to enable international oil companies' (IOCs) upstream investment, is critical to boosting oil production, given the mature nature of the giant Burgan field. However, bureaucratic gridlock has persistently disrupted the implementation of the plan, hampering investment and therefore weighing on production capacity.
* Regulatory approval of the long-delayed al-Zour refinery and the Clean Fuels Project will allow Kuwait to significantly boost both production and exports of refined products, including lowsulphur diesel and Euro-4 gasoline.
* Significant non-associated gas in the Jurassic fields in Kuwait's north must be monetised in order to lessen dependence on gas imports, which we see continuing through to 2021. LNG imports could be supplemented by the re-activation of pipeline imports from Iraq (which have been suspended since 1990).
* We expect Kuwaiti gas production to rise from an estimated 12.3bcm in 2011 to over 16bcm by 2021, with imports rising to around 6.4bcm by the end of our 10-year forecast period.

Full Report Details at

Kuwait's dependence on oil leads to high volatility in the country's export revenues. Our forecasts for slower growth in China, a faltering recovery in the US and a worsening eurozone debt crisis clearly pose a threat to global oil demand. At the time of writing, our forecasts see OPEC basket oil prices falling from US$107.05 per barrel (bbl) in 2012 to US$99.10/bbl in 2013, which will have a somewhat detrimental impact on the country's macroeconomic outlook.

Report Table of Contents:

SWOT Analysis
- Kuwait Oil & Gas SWOT
Global Energy Market Outlook
- Oil: Getting Closer To Emerging Markets Inflection Point
- Table: Oil Consumption Forecasts, 2010-2016 ('000b/d)
- Table: Oil Production Forecasts, 2010-2016 ('000b/d)
Regional Energy Market Outlook
Kuwait Energy Market Overview
- Table: Upstream Projects Database
Industry Forecast Scenario
- Table: Kuwait Oil & Gas - Historical Data And Forecasts, 2009-2016
- Table: Kuwait Oil & Gas - Long Term Forecasts, 2014-2021
- Oil And Gas Reserves
- Oil Supply And Demand
- Gas Supply And Demand
- Refining And Oil Products Trade
- Revenues/Import Costs
- Key Risks To BMI's Forecast Scenario
Oil And Gas Infrastructure
- Oil Refineries
- Table: Refineries In Kuwait
- Service Stations
- Oil Storage Facilities
- Oil Terminals/Ports
- Oil Pipelines
- LNG Terminals
- Gas Pipelines
- Gas Booster Stations
Regional And Country Risk/Reward Ratings
- Table: Middle East Oil & Gas Risk/Reward Ratings, Q412
- Table: Middle East Upstream Oil & Gas Risk/Reward Ratings, Q412
- Table: Middle East Downstream Oil & Gas Risk/Reward Ratings, Q412
- Kuwait Upstream Rating - Overview
- Kuwait Upstream Rating - Rewards
- Kuwait Upstream Rating - Risks
- Kuwait Downstream Rating - Overview
Competitive Landscape
- Executive Summary
- Table: Key Kuwaiti Oil & Gas Sector Players
- Overview/State Role
- Licensing And Regulation
- Government Policy
- International Energy Relations
- Table: Key Upstream Players
- Table: Key Downstream Players
Company Monitor
- Kuwait Petroleum Corporation (KPC)
- Kuwait National Petroleum Company (KNPC)
- Chevron
- Royal Dutch Shell - Summary
- Total - Summary
- Oula Fuel Marketing Company - Summary
- Soor Fuel Marketing Company - Summary
- Kuwait Energy - Summary
Middle East - Regional Appendix
- Table: Oil Consumption, 2009-2016 ('000 b/d)
- Table: Oil Consumption, 2014-2021 ('000 b/d)
- Table: Oil Production, 2009-2016 ('000b/d)
- Table: Oil Production, 2014-2021 ('000 b/d)
- Table : Refining Capacity, 2009-2016 ('000 b/d)
- Table: Refining Capacity, 2014-2021 ('000 b/d)
- Table: Gas Consumption, 2009-2016 (bcm)
- Table: Gas Consumption, 2014-2021 (bcm)
- Table: Gas Production, 2009-2016 (bcm)
- Table: Gas Production, 2014-2021 (bcm)
- Table: Net LNG Exports, 2009-2016 (bcm)
- Table: Net LNG Exports, 2014-2021 (bcm)
Glossary Of Terms
- Table: Glossary Of Terms
Oil & 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
- Table: BMI's Oil & Gas Business Environment Downstream Ratings - Methodology
BMI Methodology
- How We Generate Our Industry Forecasts
- Energy Industry
- Cross-checks
- Sources

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at

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