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United Arab Emirates Oil and Gas Report Q4 2012 - Product Image

United Arab Emirates Oil and Gas Report Q4 2012

  • Published: November 2012
  • Region: United Arab Emirates
  • 79 pages
  • Business Monitor International

FEATURED COMPANIES

  • BP – Summary
  • CNPC – Summary
  • Company Monitor
  • Cosmo Oil – Summary
  • Dana Gas – Summary
  • Dolphin Energy
  • MORE

BMI View:

The UAE has delivered on its stated ambitions to raise sustainable oil production capacity to 2.7-2.8mn b/d, compensating for missing Iranian barrels. Further increases are likely to materialise by year-end 2012. Meanwhile, the start of commercial oil exports through the Fujairah pipeline marks a significant new stage in the UAE’s export capabilities.

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

- Our view is that the UAE’s proven oil reserves will slip gradually over the period to 2016,
dropping to 91.3bn barrels (bbl) from the end-2011 total of 96.7bn, and this will fall in subsequent years to 85.3bn by 2021.

- With around 1mn barrels per day (b/d) of Iranian crude removed from the market due to sanctions, the UAE is one of the countries that are taking up the slack – taking advantage of investment in production capacity. Output in mid-2012 has averaged 2.7mn b/d, with overall sustainable production capacity at 2.8mn b/d.

- Gas production will get a big mid-decade boost from the start-up of the Shah sour gas project.

By 2016, we see output of around 67bn cubic metres READ MORE >

BMI Industry View 5

SWOT Analysis 6

UAE Oil and Gas SWOT 6

Global Energy Market Outlook 7

Oil: Getting Closer To Emerging Markets Inflection Point 7
Table: Oil Consumption Forecasts, 2010-2016 (’000b/d) 9
Table: Oil Production Forecasts, 2010-2016 (’000b/d) 11

Regional Energy Market Outlook 15

United Arab Emirates Energy Market Overview 22
Table: Upstream Projects Database 22

Industry Forecast Scenario 26
Table: United Arab Emirates Oil & Gas – Historical Data And Forecasts, 2009-2016 26
Table: United Arab Emirates Oil & Gas – Long Term Forecast, 2014 – 2021 27

Oil and Gas Reserves 28

Oil Supply and Demand 28

Gas Supply And Demand 30

LNG 31

Refining And Oil Products Trade 32

Revenues/Import Costs 32

Key Risks To our Forecast Scenario 33

Oil and Gas Infrastructure 34

Oil Refineries 34
Table: Refineries In The UAE 34

Oil Pipelines 36

LNG 36
Table: LNG Export Terminals in the UAE 37

Gas Pipelines 37

Regional and Country Risk/Reward Ratings 38
Table: Oil and Gas Risk/Reward Ratings 39
Table: Middle East Upstream Oil and Gas Risk/Reward Ratings 40
Table: Middle East Downstream Oil and Gas Risk/Reward Ratings 40

UAE Upstream Rating – Overview 41

UAE Upstream Rating – Rewards 41

UAE Upstream Rating – Risks 41

UAE Downstream Rating – Overview 41

Competitive Landscape 42

Executive Summary 42
Table: Key Domestic And Foreign Companies In The UAE’s Oil & Gas Sector 43

Overview/State Role 43

Licensing And Regulation 44

Government Policy 45

International Energy Relations 45
Table: Key Upstream Players 47
Table: Key Downstream Players 47

Company Monitor 48

Abu Dhabi National Oil Company (ADNOC) 48

Dolphin Energy 52

Emirates General Petroleum Corporation (Emarat) 54

Emirates National Oil Company (ENOC) 56

ExxonMobil 58

BP – Summary 60

Rosneft – Summary 60

Total – Summary 61

Royal Dutch Shell – Summary 61

Korea National Oil Corporation – Summary 61

Dana Gas – Summary 62

Occidental Petroleum – Summary 63

Japan Oil Development Company (JODCO) – Summary 63

Cosmo Oil – Summary 63

Abu Dhabi National Energy Company (TAQA) – Summary 63

CNPC – Summary 64

RAK Petroleum – Summary 64

Middle East – Regional Appendix 65
Table: Oil Consumption, 2009-2016 (’000b/d) 65
Table: Oil Consumption, 2014-2021 (’000b/d) 65
Table: Oil Production, 2009-2016 (’000b/d) 66
Table: Oil Production, 2014-2021 (’000b/d) 66

Table : Refining Capacity, 2009-2016 (’000b/d) 66
Table: Refining Capacity, 2014-2021 (’000b/d) 67
Table: Gas Consumption, 2009-2016 (bcm) 67
Table: Gas Consumption, 2014-2021 (bcm) 68
Table: Gas Production, 2009-2016 (bcm) 68
Table: Gas Production, 2014-2021 (bcm) 69
Table: Net LNG Exports, 2009-2016 (bcm) 69
Table: Net LNG Exports, 2014-2021 (bcm) 69

Methodology And Risks To Forecasts 70

Glossary Of Terms 71

Oil And Gas Risk/Reward Ratings Methodology 73

Ratings Overview 73
Table: BMI’s Oil & Gas Business Environment Ratings – Structure 74

Indicators 74
Table: BMI’s Oil & Gas Upstream Ratings – Methodology 74
Table: BMI’s Oil & Gas Business Environment Downstream Ratings – Methodology 75

BMI Methodology 77

How We Generate Our Industry Forecasts 77

Energy Industry 77

Cross checks 78

Sources 78

Company Monitor
Abu Dhabi National Oil Company (ADNOC)
Dolphin Energy
Emirates General Petroleum Corporation (Emarat)
Emirates National Oil Company (ENOC)
ExxonMobil
BP – Summary
Rosneft – Summary
Total – Summary
Royal Dutch Shell – Summary
Korea National Oil Corporation – Summary
Dana Gas – Summary
Occidental Petroleum – Summary
Japan Oil Development Company (JODCO) – Summary
Cosmo Oil – Summary
Abu Dhabi National Energy Company (TAQA) – Summary
CNPC – Summary
RAK Petroleum – Summary

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