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's stable investment climate and its robust attempts to maximise the potential of its significant oil and natural gas reserves will continue to make it a major focus of upstream investment. This, in turn, will bring it closer to its target of increasing 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$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 ambitious 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. Abu Dhabi is planning to spend US$60bn over the next five years to raise production capacity above 3.6mn barrels per day (b/d) by 2019, a target we believe the UAE is largely on track to meet. 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 natural gas transactions in the Middle East during 2013.

  • We expect crude oil, NGL and other liquids production for 2014 to average 3.24mn b/d. Although production did slip slightly in February, as other OPEC members gradually make room for Iraqi production, we expect the UAE's production growth to continue into 2014. This would be on the back of significant upstream investment to drive growth at annual average of more than 2% from 2015 to 2022. According to our forecast the...

Table of Contents

BMI Industry View
7
BMI Industry View
7
SWOT
8
UAE Oil & Gas SWOT
8
Industry Forecast
9
Industry Forecast
9
Industry Forecast Scenario
9
Table: Table: UAE Proven Oil and Gas Reserves and Total Petroleum Data - Historical Data And Forecasts, 2010-2016
9
Table: Table: UAE Proven Oil and Gas Reserves and Total Petroleum Data - Long-Term Forecasts, 2015-2021
10
Table: Table: UAE Oil Production, Consumption and Net Exports - Historical Data And Forecasts, 2010-2016
12
Table: Table: UAE Oil Production, Consumption and Net Exports - Long-Term Forecasts, 2015-2021
13
Oil Supply and Demand
14
Gas Supply And Demand
16
Table: Table: UAE Gas Production, Consumption and Net Exports - Historical Data And Forecasts, 2010-2016
16
Table: Table: UAE Gas Production, Consumption and Net Exports - Long-Term Forecasts, 2015-2021
18
LNG
21
Refining And Oil Products Trade
22
Table: Table: UAE Refining - Production and Consumption - Historical Data And Forecasts, 2010-2016
22
Table: Table: UAE Refining - Production and Consumption - Long-Term Forecasts, 2015-2021
22
Revenues/Import Costs
23
Key Risks To BMI's Forecast Scenario
23
Industry Risk/Reward Ratings
25
UAE Risk/Reward Rating
25
UAE Upstream Rating
25
UAE Downstream Rating
25
Regional Risk/Reward Ratings
25
Table: Oil & Gas Risk/Reward Ratings
27
Table: Middle East Downstream Oil & Gas Risk/Reward Ratings
30
Table: Middle East Upstream Oil & Gas Risk/Rewards Ratings
31
Market Overview
33
UAE Energy Market Overview
33
United Arab Emirates Energy Market Overview
33
Overview/State Role
35
Licensing And Regulation
35
Government Policy
37
Fuel Prices
37
International Energy Relations
37
Oil and Gas Infrastructure
39
Oil and Gas Infrastructure
39
Oil Refineries
39
Table: Refineries In The UAE
40
Oil Pipelines
42
LNG
42
Table: LNG Export Terminals in the UAE
43
Gas Pipelines
43
Competitive Landscape
44
Competitive Landscape
44
Company Profile
46
Abu Dhabi National Oil Company (ADNOC)
46
Dolphin Energy
50
Emirates General Petroleum Corporation (Emarat)
52
Emirates National Oil Company (ENOC)
54
ExxonMobil
56
BP
58
Total
60
Royal Dutch Shell
62
Others Summary
63
Rosneft
63
KNOC Summary
63
Dubai Petroleum Summary
63
Dana Gas
64
Occidental Petroleum Summary
64
INPEX/JPDCO Summary
65
Cosmo Summary
65
TAQA Summary
65
CNPC Summary
66
RAK Petroleum Summary
66
Global Industry Overview
67
Regional Energy Market Overview
67
Global Energy Market Overview
71
Table: Global Oil Demand Forecasts - A Comparison
75
Inflection point
75
New Frontiers In Production
76
Appendix
80
Regional Appendix
80
Table: Table: Oil Consumption - Historical Data & Forecasts, 2009-2016 ('000b/d)
80
Table: Table: Oil Consumption - Long-Term Forecasts, 2014-2021 ('000b/d)
80
Table: Table: Oil Production - Historical Data & Forecasts, 2009-2016 ('000b/d)
81
Table: Table: Oil Production - Long-Term Forecasts, 2014-2021 ('000b/d)
82
Table: Table : Refining Capacity - Historical Data & Forecasts, 2009-2016 ('000b/d)
82
Table: Table: Refining Capacity - Long-Term Forecasts, 2014-2021 ('000b/d)
83
Table: Table: Gas Consumption - Historical Data & Forecasts, 2009-2016 (bcm)
83
Table: Table: Gas Consumption, 2014-2021 (bcm)
84
Table: Table: Gas Production - Historical Data & Forecasts, 2009-2016 (bcm)
84
Table: Table: Gas Production - Long-Term Forecasts, 2014-2021 (bcm)
85
Table: Table: Net LNG Exports - Historical Data & Forecasts, 2009-2016 (bcm)
85
Table: Table: Net LNG Exports - Long-Term Forecasts, 2014-2021 (bcm)
86
Methodology
87
Methodology
87
Energy Industry
87
Cross checks
88
Sources
88
Glossary
89
Glossary
89
Table: Glossary Of Terms
89

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