Business Monitor International


Spain Oil & Gas Report

Published 13 October 2014

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

BMI View:   Although current domestic production of oil and gas is negligible, with imports meeting around 98% of current demand, we are witnessing a gradual but notable uptick in investment targeting Spain's upstream. The acceleration of onshore and offshore activity could cut Spain's hefty import bill, but there are political and regulatory risks that hold sizable downs risks to both conventional and unconventional efforts. However , the environment ministry has recently allowed deepwater drilling off the Canary Islands , and the Supreme Court has granted Repsol the authoris ation to start exploration after the permit had been legally challenged by local authorities. Also, in November 201 3 the central government legalis ed the process of hydraulic fracturing.   However, while we see brightening prospects for onshore unconventionals, this upside is unlikely to significantly alter production for within our forecast period: significant technical, environmental and political obstacles preclude us from including significant shale gas production within our forecast period.

Headline Forecasts (Spain 2012-2018)
  2012e 2013e 2014f 2015f 2016f 2017f 2018f
Crude, NGPL & other liquids prod, 000b/d 4.0 4.6 5.1 5.4 5.5 5.3 5.2
Dry natural gas production, bcm 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Dry natural gas consumption, bcm 32.5 32.7 33.0 33.4 34.1 34.8 35.5
Refined products production & ethanol, 000b/d 1,165.0 1,147.5 1,153.3 1,162.5 1,139.2 1,116.5 1,105.3
Refined products consumption & ethanol, 000b/d 1,337.2 1,295.6 1,272.2 1,253.8 1,252.7 1,257.4 1,247.3
e/f = BMI estimate/forecast. Source: EIA, BMI

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Madrid filed a legal challenge to the fracking ban that the northern region of Cantabria had unanimously voted in April 2013. In June 2014 the Constitutional Court rejected Cantabria's law,...

Table of Contents

BMI Industry View
7
Table: Headline Forecasts (Spain 2012-2018)
7
SWOT
10
Industry Forecast
12
Upstream Exploration
12
Table: Proven Oil and Gas Reserves (Spain 2012-2017)
12
Table: Proven Oil and Gas Reserves (Spain 2018-2023)
12
Upstream Production - Oil
19
Table: Oil Production (Spain 2012-2017)
19
Table: Oil Production (Spain 2018-2023)
20
Upstream Production - Gas
22
Table: Gas Production (Spain 2012-2017)
23
Table: Gas Production (Spain 2018-2023)
23
Refining
25
Table: Refining Capacity and Refined Products Production (Spain 2012-2017)
25
Table: Refining Capacity and Refined Products Production (Spain 2018-2023)
25
Refined Fuels Consumption
26
Table: Refined Products Consumption* (Spain 2012-2017)
26
Table: Refined Products Consumption* (Spain 2018-2023)
27
Gas Consumption
28
Table: Gas Consumption (Spain 2012-2017)
28
Table: Gas Consumption (Spain 2018-2023)
28
Trade - Oil
30
Table: Crude Oil Net Exports (Spain 2012-2017)
30
Table: Crude Oil Net Exports (Spain 2018-2023)
30
Table: Refined Fuels Net Exports (Spain 2012-2017)
31
Table: Refined Fuels Net Exports (Spain 2018-2023)
32
Table: Total Net Oil Exports - Crude and Products (Spain 2012-2017)
33
Table: Total Net Oil Exports - Crude and Products (Spain 2018-2023)
33
Trade - Gas (Pipeline and LNG)
34
Table: Gas Net Exports (Spain 2012-2017)
34
Table: Gas Net Exports (Spain 2018-2023)
34
Industry Risk Reward Ratings
39
North America And Western Europe - Risk/Reward Ratings
39
Table: North America & Western Europe States Oil & Gas Risk/Reward Ratings
40
Upstream: US Nearly On Par With Canada
40
Table: Oil & Gas Upstream Risk/Reward Ratings
40
Western Europe Languishes Without Shale Outlook
43
Downstream: US Comes Out Tops
45
Table: Oil & Gas Downstream Risk/Reward Ratings
45
Spain - Risk/Reward Ratings
49
Spain Upstream Rating
49
Spain Downstream Rating
49
Market Overview
50
Spain Energy Market Overview
50
Overview/State Role
53
Licensing/Regulation
53
Government Policy
53
International Energy Relations
53
Oil & Gas Infrastructure
55
Oil Refineries
55
Table: Refineries In Spain
55
Service Stations
56
Oil Storage Facilities
56
Oil Terminals
56
Oil Pipelines
56
LNG Terminals
56
Table: Spain LNG Infrastructure
57
Gas Storage
58
Gas Pipelines
59
Competitive Landscape
61
Competitive Landscape Summary
61
Table: Key Players - Spanish Oil And Gas Sector
61
Table: Key Downstream Players
62
Company Profile
63
Repsol
63
Gas Natural Fenosa
70
Other Summaries
75
Regional Overview
79
Industry News
79
Global Industry Overview
88
Global Energy Market Overview
88
Appendix
94
Developed Europe - Regional Appendix
94
Table: Oil Consumption - Historical Data And Forecasts, 2011-2018 ('000b/d)
94
Table: Oil Consumption - Long-Term Forecasts, 2015-2023 ('000b/d)
95
Table: Oil Production - Historical Data And Forecasts, 2011-2018 ('000b/d)
95
Table: Oil Production - Long-Term Forecasts, 2015-2023 ('000b/d)
96
Table: Refinery Capacity - Historical Data And Forecasts, 2011-2018 ('000b/d)
96
Table: Refining Capacity - Long-Term Forecasts, 2015-2023 ('000b/d)
97
Table: Gas Consumption - Historical Data And Forecasts, 2011-2018 (bcm)
97
Table: Gas Consumption - Long-Term Forecasts, 2015-2023 (bcm)
98
Table: Gas Production - Historical Data And Forecasts, 2011-2018 (bcm)
98
Table: Gas Production - Long-Term Forecasts, 2015-2023 (bcm)
99
Table: LNG Gas Imports (Exports) - Historical Data And Forecasts, 2011-2018 (bcm)
99
Table: LNG Gas Imports (Exports) - Long-Term Forecasts, 2015-2023 (bcm)
100
Global - Crude Oil, Refined Fuels And Natural Gas Prices, 10-year Forecasts
101
Table: Energy Price Forecasts, 2012-2017
101
Table: Energy Price Forecasts, 2018-2023
102
Glossary
104
Table: Glossary Of Terms
104
Methodology
106
Industry Forecast Methodology
106
Source
108
Risk/Reward Ratings Methodology
108
Table: Bmi's Oil & Gas Upstream Risk/Reward Ratings
110
Table: Weighting
111

The Spain Oil & Gas Report has been researched at source and features Business Monitor International (BMI)'s independent forecasts for Spain 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 Spain Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Spanish oil and gas industry.

Key Benefits

  • Benchmark BMI's independent oil and gas industry forecasts for Spain to test consensus views - a key input for successful budgeting and strategic business planning in the Spanish oil and gas market.
  • Target business opportunities and risks in the Spanish oil and gas sector through reviews of latest industry trends, regulatory changes and major deals, projects and investments in Spain.
  • 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.

Regional Overview

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

Business Environment Rankings

BMI's Oil and Gas Business Environment Rankings provide a country-comparative Risk-Reward Rankings index aimed at investors (independents, NOCs, IOCs and oil services companies) in the upstream and downstream markets.

The rankings methodology makes sophisticated use of more than 40 industry, economic and demographic data points and is part of BMI's integrated Country Risk-Industry Rankings products.

Oil Market Outlook and 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-2018 for oil, gas and oil products

BMI Industry Forecasts

Historic data series and forecasts to end-2018 for all key industry indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:

Pricing: Oil price (US$/bbl, WTI, Brent, OPEC basket, Urals); Oil products prices (unleaded gasoline, gasoil/diesel, jet/kerosene - US$/bbl) at global hubs

Production, Consumption, Capacity and Reserves: Proven oil reserves (bn barrels), production, consumption, refinery capacity and throughputs (`000b/d); Proven gas reserves (tcm), production and consumption (bcm)

Imports and Exports: Oil exports/imports (`000b/d), value of oil exports/imports (US$mn - BMI base case); Value of oil exports at constant US$50/bbl and constant US$100/bbl (US$mn); Gas exports/imports (bcm), Value of gas exports/imports (US$mn); Value of gas exports/imports at constant US$50/bbl and US$100/bbl (US$mn); Value of petroleum exports/imports (US$mn); Value of petroleum exports/imports at constant US$50/bbl and US$100/bbl (US$mn)

BMI Macroeconomic Forecasts

BMI forecasts to end-2018 for all headline macroeconomic indicators, including real GDP growth, inflation, fiscal balance, trade balance, current account and external debt.

Competitive Landscape

Comparative company analyses by US$ 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.

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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