Business Monitor International


Chile Oil & Gas Report

Published 18 November 2014

  • 120 pages
  • Instant access to your report online and PDF format through your account library
  • Includes 3 free updated quarterly reports
 
$1,295.00
Chile Oil & Gas Report

BMI View:   Given a lack of below-ground potential, Chile suffers from a severe deficit of hydrocarbon supplies and a high dependence on imported energy feedstock. However, the country's leadership   recogni s es   the unlikelihood of a trend reversal, implementing a new national energy strategy to spur greater development of the sector where possible. The Bachelet administration has continue d Chile's tradition s of a liberal economy, regulatory transparency , and encouragement of foreign investment. Chile's most immediate opportunities lie in the expansion of their liquefied natural gas (LNG) import facilities as a means to meet growing domestic demand . On a longer-term basis, Chile is exploring the possibility of tapping is unconventional resources in the Magallanes region, offering a potential opportunity for sustained output growth. 

Headline Forecasts (Chile 2012-2018)
  2012 2013 2014f 2015f 2016f 2017f 2018f
Crude, NGPL & other liquids prod, 000b/d 11.9 10.7 10.8 10.9 10.9 11.0 11.2
Refined products production & ethanol, 000b/d 198.0 199.0 201.0 203.0 205.0 208.1 211.2
Refined products consumption & ethanol, 000b/d 342.1 341.2 348.0 355.0 362.1 369.3 380.4
Dry natural gas production, bcm 1.2 0.9 0.9 0.9 0.9 1.0 1.0
Dry natural gas consumption, bcm 5.0 4.7 4.9 5.1 5.4 5.7 5.9
f = BMI forecast. Source: EIA, BMI

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The key trends and developments in the Chilean oil and gas sector are:

  • Chile's attractive fiscal regime, favourable regulatory environment, and stable macroeconomic growth have been unable to spur significant investment into the country's oil and gas sector due to poor below-ground rewards compared to its regional peers. Chile has experienced varying degrees of output growth in the past several years, and while the country is making broad efforts to...

Table of Contents

BMI Industry View
7
Table: Headline Forecasts (Chile 2012-2018)
7
SWOT
9
Oil & Gas SWOT
9
Industry Forecast
11
Upstream Exploration
11
Table: Proven Oil and Gas Reserves (Chile 2012-2017)
11
Table: Proven Oil and Gas Reserves (Chile 2018-2023)
11
Upstream Projects
14
Table: Key Upstream Projects In Chile
14
Upstream Production - Oil
14
Table: Oil Production (Chile 2012-2017)
14
Table: Oil Production (Chile 2018-2023)
15
Table: GeoPark Holdings In Chile, Summary By Block
18
Upstream Production - Gas
19
Table: Gas Production (Chile 2012-2017)
19
Table: Gas Production (Chile 2018-2023)
19
Refining
22
Table: Refining Capacity and Refined Products Production (Chile 2012-2017)
22
Table: Refining Capacity and Refined Products Production (Chile 2018-2023)
22
Refined Fuels Consumption
25
Table: Refined Products Consumption* (Chile 2012-2017)
25
Table: Refined Products Consumption* (Chile 2018-2023)
25
Gas Consumption
27
Table: Gas Consumption (Chile 2012-2017)
27
Table: Gas Consumption (Chile 2018-2023)
27
Trade - Oil
29
Table: Crude Oil Net Exports (Chile 2012-2017)
29
Table: Crude Oil Net Exports (Chile 2018-2023)
29
Table: Refined Fuels Net Exports (Chile 2012-2017)
31
Table: Refined Fuels Net Exports (Chile 2018-2023)
31
Table: Total Net Oil Exports - Crude and Products (Chile 2012-2017)
33
Table: Total Net Oil Exports - Crude and Products (Chile 2018-2023)
33
Trade - Gas (Pipeline and LNG)
34
Table: Gas Net Exports (Chile 2012-2017)
34
Table: Gas Net Exports (Chile 2018-2023)
34
Industry Risk Reward Ratings
38
Latin America - Risk/Reward Ratings
38
Table: Latin America Oil & Gas Risk/Reward Ratings
40
Upstream Risk/Reward Ratings: Reforms Prompting A Shake Up
40
Table: Latin America Upstream Risk/Reward Ratings
46
Downstream: Medium-Term Outlook Reinforces Current Dynamics
46
Table: Latin America Downstream Risk/Reward Ratings
48
Chile - Risk/Reward Index
48
Market Overview
51
Chile Energy Market Overview
51
Overview
51
State Role And The New National Energy Policy
52
Investment Rounds
54
International Energy Relations
54
Oil And Gas Infrastructure
56
Oil Refineries
56
Table: Refineries In Chile
56
Service Stations
57
Gas Pipelines
57
LNG Terminals
57
Table: LNG Terminals In Chile
59
Competitive Landscape
60
Competitive Landscape Summary
60
Table: Chile - Key Players
61
Table: Chile - Key Upstream Players
61
Table: Key Downstream Players
61
Company Profile
62
Empresa Nacional del Petr-leo (ENAP)
62
Compa--a de Petr-leos de Chile (Copec)
68
Petrobras
72
GeoPark Holdings
74
Other Summaries
78
Regional Overview
81
Latin America Overview
81
Global Industry Overview
90
Global Energy Market Overview
90
Appendix
96
Global - Crude Oil, Refined Fuels And Natural Gas Prices, 10-year Forecasts
96
Table: Energy Price Forecasts, 2012-2017
96
Table: Energy Price Forecasts, 2018-2023
97
Latin America - Regional Appendix
99
Table: Oil Consumption - Historical Data & Forecasts, 2011-2018 ('000b/d
99
Table: Oil Consumption - Long Term Forecasts, 2015-2023 ('000b/d)
100
Table: Oil Production - Historical Data & Forecasts, 2011-2018 ('000b/d)
100
Table: Oil Production - Long-Term Forecasts, 2015-2023 ('000b/d)
101
Table: Refining Capacity - Historical Data & Forecasts, 2011-2018 ('000b/d)
102
Table: Refining Capacity - Long-Term Forecasts, 2015-2023 ('000b/d)
102
Table: Gas Consumption - Historical Data & Forecasts, 2011-2018 (bcm)
103
Table: Gas Consumption - Long-Term Forecasts, 2015-2023 (bcm)
103
Table: Gas Production - Historical Data & Forecasts, 2011-2018 (bcm)
104
Table: Gas Production - Long-Term Forecasts, 2015-2023 (bcm)
105
Table: LNG Exports - Historical Data & Forecasts, 2011-2018 (bcm)
105
Table: LNG Exports - Long-Term Forecasts, 2015-2023 (bcm)
106
Chile - Total Hydrocarbons, 10-year Forecasts
107
Table: Total Hydrocarbons Production, Consumption and Net Exports (Chile 2012-2017)
107
Table: Total Hydrocarbons Production, Consumption and Net Exports (Chile 2018-2023)
107
Chile - Refined Products Breakdown, 10-year Forecasts
109
Table: Refined Petroleum Products, Production Breakdown (Chile 2012-2017)
109
Table: Refined Petroleum Products, Production Breakdown (Chile 2018-2023)
110
Table: Refined Petroleum Products, Consumption Breakdown (Chile 2018-2023)
111
Table: Refined Petroleum Products, Net Exports Breakdown (Chile 2012-2017)
112
Table: Refined Petroleum Products, Net Exports Breakdown (Chile 2018-2023)
113
Glossary
115
Table: Glossary Of Terms
115
Methodology
117
Industry Forecast Methodology
117
Source
119
Risk/Reward Ratings Methodology
119
Table: Bmi's Oil & Gas Upstream Risk/Reward Ratings
121
Table: Weighting
122

The Chile Oil & Gas Report has been researched at source and features Business Monitor International (BMI)'s independent forecasts for Chile including major indicators for oil, gas and LNG, covering all major indicators including reserves, production, consumption, refining capacity, prices, export volumes and values. The report includes full analysis of industry trends and prospects, national and multinational companies and changes in the regulatory environment.

BMI's Chile Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Chilean oil and gas industry.

Key Benefits

  • Benchmark BMI's independent oil and gas industry forecasts for Chile to test consensus views - a key input for successful budgeting and strategic business planning in the Chilean oil and gas market.
  • Target business opportunities and risks in the Chilean oil and gas sector through reviews of latest industry trends, regulatory changes and major deals, projects and investments in Chile.
  • Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.

Coverage

BMI Industry View

Summary of BMI’s key forecasts and industry analysis, covering oil and gas reserves, supply, demand and refining, plus analysis of landmark company developments and key changes in the regulatory environment.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the upstream and downstream sectors and within the broader political, economic and business environment.

BMI Industry Forecasts

Historic data series and forecasts to end-2024 for all key industry indicators, supported by explicit assumptions, plus analysis of key downside risks to the main forecast:

  • Pricing: Oil price (USD/bbl, WTI, Brent, OPEC basket, Urals); oil products prices (unleaded gasoline, gasoil/diesel, jet/kerosene – USD/bbl) at global hubs.
  • Production, Consumption, Capacity & Reserves: Proven oil reserves (bn barrels), production, consumption, refinery capacity and throughputs (‘000b/d); proven gas reserves (tcm), production and consumption (bcm) and fuels trade.
  • Imports & Exports: Crude oil exports/imports (‘000s b/d) and value of crude oil trade in USD. Fuels exports/imports (‘000s b/d) and value of fuels trade in USD. Natural gas imports/exports (bcm), by pipeline and/or LNG, and value of natural gas trade.

BMI’s Oil & Gas Risk Reward Index

BMI’s Risk Reward Indices provide investors (independents, NOCs, IOCs, oil services companies) looking for opportunities in the region with a clear country-comparative assessment of the upstream and downstream market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide indices of highest to lowest appeal to investors, with each position explained.

Market Overview

A profile of the upstream and downstream sectors, including analysis of reserves, output, consumption and trade of energy products; overview of the industry landscape and key players; assessment of the business operating environment and the latest regulatory developments.

Competitive landscape

Comparative company analyses by USD sales, % share of total sales, number of employees, year established, ownership structure, oil production (‘000b/d), gas production (bcm), downstream capacity (‘000b/d) and % market share.

Company Profiles*

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate Company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

Regional Overview

Regional perspective on size and value of the industry. Plus comparative rankings by production, refining, imports and exports of oil, gas and LNG.

Global Oil Market & Oil Products Outlook

Based on our country coverage of over 99% of global oil and gas production and consumption, BMI provides demand, supply and price forecasts to end-2024 for oil, gas and oil products.

Sources

The Oil & gas Reports draw on an extensive network of primary sources, such as multilateral organisations, government departments, industry associations, chambers and company reports.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc