Business Monitor International


United Arab Emirates Oil & Gas Report

Published 25 March 2014

  • 127 pages
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  • Includes 3 free updated quarterly reports
 
$1,295.00
United Arab Emirates Oil & Gas Report

BMI View :   The UAE has continued its steady recovery from the global financial crisis without any major disruptions. As the political and economic elite were able to successfully return the country towards a   stable investment climate, the fruits of these efforts ultimately created the conditions   for the UAE to maximize the potential of its significant oil and natural gas reserves. In 2013, according to the country's National Bureau of Statistics (NBS), the UAE's economy grew by over 5%. A major contributing factor cited by the NBS was the country's steadily rising oil exports. This dynamic will bring the UAE that much closer to its target of increasing oil production to 3.6mn barrels per day (b/d) by 2019. We expect steady growth in oil and gas production over the course of our forecast period. Greater attempts at increasing energy efficiency, efforts to reduce waste and increasing natural gas production will be critical to limiting the UAE's import requirement as consumption continues to outstrip demand, even with some US D 25bn set to be investment in gas projects in Abu Dhabi alone.

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

  • The UAE's upstream investment plan will raise its production capacity while increasing recovery from onshore and offshore fields, resulting in billions in contracts awarded as part of a plan to raise production capacity. Over the next five years, Abu Dhabi is planning to spend USD60bn to raise its production capacity above 3.6mn barrels per day (b/d) by 2019. Given its steady focus on production capacity and investment, BMI believes that the UAE is largely on track to meet this target. However, reports that plans to reach this capacity may be delayed until 2020 as result of delays underscore the risk of such a large investment programme. A new study of the region by Ernst & Young found that the UAE, Oman and Iraq represented almost 60% of the total number of upstream oil and...

Table of Contents

BMI Industry View
7
SWOT
9
Industry Forecast
11
Oil And Gas Reserves
11
Table: UAE Proven Oil & Gas Reserves And Total Petroleum Data - Historical Data And Forecasts, 2012-2017
11
Table: UAE Proven Oil & Gas Reserves And Total Petroleum Data - Historical Data And Forecasts, 2018-2023
12
Oil Supply And Demand
13
Table: UAE Oil Production, Consumption And Net Exports - Historical Data And Forecasts, 2012-2017
13
Table: UAE Oil Production, Consumption And Net Exports - Historical Data And Forecasts, 2018-2023
14
Refining And Oil Products Trade
19
Table: UAE Refining - Production And Consumption - Historical Data And Forecasts, 2012-2017
19
Table: UAE Refining - Production And Consumption - Historical Data And Forecasts, 2018-2023
20
Gas Supply And Demand
22
Table: UAE Gas Production, Consumption And Net Exports - Historical Data And Forecasts, 2012-2017
22
Table: UAE Gas Production, Consumption And Net Exports - Historical Data And Forecasts, 2018-2023
23
LNG
31
Revenues/Import Costs
35
Key Risks To BMI's Forecast Scenario
35
Industry Risk/Reward Ratings
36
Middle East - Risk/Reward Ratings
36
Table: BMI's Middle East Oil & Gas Risk/Reward Ratings (RRRs)
37
Table: Middle East Upstream Oil & Gas Risk/Reward Rating
39
Table: Middle East Downstream Oil & Gas Risk/Reward Rating
41
UAE - Risk/Reward Ratings
43
UAE Upstream Rating
43
UAE Downstream Rating
43
Market Overview
44
United Arab Emirates Energy Market Overview
44
Overview/State Role
45
Licensing And Regulation
45
Government Policy
48
Fuel Prices
48
International Energy Relations
49
Oil And Gas Infrastructure
52
Oil Refineries
52
Table: Refineries In The UAE
52
Oil Pipelines
54
Table: UAE Export Terminals
55
LNG
55
Table: UAE LNG
57
Gas Pipelines
57
Competitive Landscape
59
Competitive Landscape Summary
59
Table: Key Domestic And Foreign Companies In The UAE's Oil & Gas Sector
60
Company Profile
61
Abu Dhabi National Oil Company (ADNOC)
61
Dolphin Energy
66
Emirates General Petroleum Corporation (Emarat)
69
Emirates National Oil Company (ENOC)
72
ExxonMobil
75
BP
77
Total
79
Royal Dutch Shell
81
Other Summaries
83
Regional Overview
88
Middle East Energy Market Overview
88
Proven Producers Invest To Lift Oil Output
88
OPEC: Major Hurdles Ahead
93
Consuming It All
95
Gas Rises, But Consumption Does Too
97
Global Industry Overview
101
Global Energy Market Overview
101
OPEC Reconsiders Modus Operandi
103
Production Outages Look Likely To Persist
104
Global Oil Demand Picks Up
105
Capex Growth Cycle Shifting Gears
107
Table: BMI Oil Price Forecasts, Annual Average, USD/bbl
107
Appendix
110
Middle East - Regional Appendix
110
Table: Oil Consumption - Historical Data & Forecasts, 2011-2018 ('000b/d)
110
Table: Oil Consumption - Long-Term Forecasts, 2015-2023 ('000b/d)
111
Table: Oil Production - Historical Data & Forecasts, 2011-2018 ('000b/d)
111
Table: Oil Production - Long-Term Forecasts, 2015-2023 ('000b/d)
112
Table: Refining Capacity - Historical Data & Forecasts, 2011-2018 ('000b/d)
112
Table: Refining Capacity - Long-Term Forecasts, 2015-2023 ('000b/d)
113
Table: Gas Consumption - Historical Data & Forecasts, 2011-2018 (bcm)
113
Table: Gas Consumption, 2015-2023 (bcm)
114
Table: Gas Production - Historical Data & Forecasts, 2011-2018 (bcm)
114
Table: Gas Production - Long-Term Forecasts, 2015-2023 (bcm)
115
Table: Net LNG Exports - Historical Data & Forecasts, 2011-2018 (bcm)
115
Table: Net LNG Exports - Long-Term Forecasts, 2015-2023 (bcm)
116
UAE - Refined Products Breakdown, 10-year Forecasts
117
Table: Refined Petroleum Products, Production Breakdown, 2012-2017
117
Table: Refined Petroleum Products, Production Breakdown, 2018-2023
118
Table: Refined Petroleum Products, Consumption Breakdown, 2012-2017
119
Table: Refined Petroleum Products, Consumption Breakdown, 2018-2023
120
Table: Refined Petroleum Products, Net Exports Breakdown
121
Table: Refined Petroleum Products, Net Exports Breakdown, 2018-2023
122
Table: LPG Production, Consumption and Net Exports, 2012-2017
123
Table: LPG Production, Consumption and Net Exports, 2018-2023
123
Glossary
125
Table: Glossary Of Terms
125
Methodology
127
Industry Forecast Methodology
127
Source
129
Risk/Reward Ratings Methodology
129
Table: Bmi's Oil & Gas Upstream Risk/Reward Ratings
131
Table: Weighting
132

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

Key Benefits

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