Business Monitor International


United Arab Emirates Oil & Gas Report

Published 21 October 2014

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

BMI View :   Much of the future success within the UAE's oil and gas industry will be inextricably linked to the country's short-term economic diversification efforts, primarily investment and growth in the non-hydrocarbon sectors. The most consequential economic success that the country has experienced in the last 5 years has been skilfully recreating the conditions of a stable investment climate, which the immediate after-effects of the global financial crisis negatively impacted.

In 2013 the UAE's economy grew by over 5%, heavily being contributed by the country's steadily rising oil exports. This year merely continued this positive trend, bringing the UAE that much closer to its target of increasing oil production to 3.6mn barrels per day (b/d) by 2019. However, as a recent economic studies have argued, investments and focus on the non-hydrocarbon sectors, chiefly the non-oil sector, will be critical to the UAE's short-term growth, particularly as global supply, by reason of unconventional production, is slated to moderately increase in the future. In looking at the non-oil foreign trade for the UAE, the country's efforts are starting to pay off, as non-oil trade reached Dh256 billion in 2014 (69.7 billion USD).

By 2015, BMI forecasts that global oil prices will peak, commencing a moderately deflated pricing cycle that will largely be kept intact by the rise of unconventional supply and continued conventional output - assuming no major supply disruption. Thus, the next two-three years will be critical for the UAE to synthesise strong revenue from the current high prices with the need to diversify economically. We expect steady growth in oil and gas production over the course of our forecast period. Greater attempts at increasing energy efficiency, waste reduction efforts, and increasing natural gas production will be critical to limiting the UAE's import requirement as consumption continues to outstrip demand.

Headline Forecasts (United Arab Emirates...

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.

secure
Benefit from discounts when you add multiple products to your basket
2 Products SAVE 10%
3 Products SAVE 15%
4 Products SAVE 20%
5 Products SAVE 25%
6 Products SAVE 30%
7 - 20 Products SAVE 35%
21 Products or more SAVE 40%

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