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Iraq Oil and Gas Report Q1 2013 - Product Image

Iraq Oil and Gas Report Q1 2013

  • Published: January 2013
  • Region: Iraq
  • 99 pages
  • Business Monitor International

FEATURED COMPANIES

  • Addax Petroleum - Summary
  • Company Profiles
  • Gazprom Neft - Summary
  • Kogas - Summary
  • MOL - Summary
  • Pearl Petroleum - Summary
  • MORE

BMI View: Although Iraq is set to lead the Middle East the region oil production growth in the Middle East region, a number of above ground risks and uncertainty related to projects in the pipeline results in widely varied forecasts over the next decade. Consensus remains elusive, as unattractive fiscal terms and a perceived better operating environment in the north better operating environment continues to support an exodus of foreign oil companies from fields in the south. Additionally, infrastructure constraints,
political disputes between north and south, and project delays, add to the divergence among forecast and uncertainty.

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

- While low lifting costs, large reserves, and ease of production from large onshore fields reduces the below ground risks associated with Iraq's upstream, unappealing licensing terms, regulatory uncertainty and ongoing security concerns continue to undermine the post-war oil industry.

Baghdad's last licensing round drew just three successful bids. Without improved terms and increased international oil company (IOC) interest, Iraq will find it very difficult READ MORE >

BMI Industry View 7

SWOT Analysis 9

Iraq Oil and Gas SWOT 9

Industry Forecast Scenario 10

Oil And Gas Reserves 10
Table: Iraq Proven Oil and Gas Reserves and Total Petroleum Data, 2010-2016 10
Table: Iraq Proven Oil and Gas Reserves and Total Petroleum Data, 2015-2021 11

Oil Supply And Demand 13
Table: Iraq Oil Production, Consumption and Net Exports, 2010-2016 13
Table: Iraq Oil Production, Consumption and Net Exports, 2015-2021 14

Gas Supply And Demand 17
Table: Iraq Gas Production, Consumption and Net Exports, 2010-2016 17
Table: Iraq Gas Production, Consumption and Net Exports, 2015-2021 19

LNG 22

Refining And Oil Products Trade 22
Table: Iraq Refining - Production and Consumption, 2010-2016 22
Table: Iraq Refining - Production and Consumption, 2015-2021 22

Revenues/Import Costs 24

Key Risks To BMI's Forecast Scenario 24

Country Risk/Reward Ratings 25

Iraq Upstream Rating 25

Iraq Downstream Rating 25

Regional Risk/Reward Ratings 26
Table: Oil & Gas Risk/Reward Ratings 27
Table: Middle East Downstream Oil & Gas Risk/Reward Ratings 31
Table: Middle East Upstream Oil & Gas Risk/Rewards Ratings 32

Iraq Energy Market Overview 33

Overview/State Role 34

Government Policy 35

Hydrocarbons Law 37

Licensing Rounds 39
Table: Fields Licensed Under First Bidding Round (June 2009) 39
Table: Fields Licensed Under Second Bidding Round (December 2009) 41
Table: Fields Licensed Under Third Bidding Round (October 2010) 43

International Energy Relations 45
Table: Iraq - Upstream Project Database 47

Oil And Gas Infrastructure 49

Oil Refineries 49
Table: Refineries In Iraq 51

Oil Terminals/Ports 51

Oil Pipelines 52

LNG Terminals 53

Gas Pipelines 53

Competitive Landscape 55

Executive Summary 55

Company Profiles 57

China National Petroleum Corporation (CNPC) - Summary 57

Royal Dutch Shell - Summary 58

Addax Petroleum - Summary 60

Genel Energy - Summary 60

RAK/DNO International - Summary 61

Heritage Oil - Summary 61

Gulf Keystone Petroleum - Summary 62

BP - Summary 63

Kogas - Summary 63

Eni - Summary 64

ExxonMobil - Summary 64

Lukoil - Summary 65

Statoil - Summary 65

Gazprom Neft - Summary 66

MOL - Summary 66

Chevron - Summary 67

Total - Summary 67

Pearl Petroleum - Summary 67

Türkiye Petrolleri Anonim Ortakligi (TPAO) - Summary 68

Marathon Oil - Summary 68

Murphy Oil - Summary 68

Repsol - Summary 69

Others - Summary 69

Oil Services Companies - Summary 72

Regional Energy Market Outlook 73

Global Energy Market Outlook 77
Table: Global Oil Demand Forecasts - A Comparison 79

Middle East - Regional Appendix 83
Table: Oil Consumption - Historical Data & Forecasts, 2009-2016 ('000b/d) 83
Table: Oil Consumption - Long-Term Forecasts, 2014-2021 ('000b/d) 83
Table: Oil Production - Historical Data & Forecasts, 2009-2016 ('000b/d) 84
Table: Oil Production - Long-Term Forecasts, 2014-2021 ('000b/d) 84

Table : Refining Capacity - Historical Data & Forecasts, 2009-2016 ('000b/d) 85
Table: Refining Capacity - Long-Term Forecasts, 2014-2021 ('000b/d) 86
Table: Gas Consumption - Historical Data & Forecasts, 2009-2016 (bcm) 86
Table: Gas Consumption, 2014-2021 (bcm) 87
Table: Gas Production - Historical Data & Forecasts, 2009-2016 (bcm) 87
Table: Gas Production - Long-Term Forecasts, 2014-2021 (bcm) 88
Table: Net LNG Exports - Historical Data & Forecasts, 2009-2016 (bcm) 88
Table: Net LNG Exports - Long-Term Forecasts, 2014-2021 (bcm) 89

Methodology And Risks To Forecasts 90

Glossary Of Terms 91
Table: Glossary Of Terms 91

Oil And Gas Risk/Reward Ratings Methodology 93

Ratings Overview 93
Table: BMI's Oil & Gas Business Environment Ratings - Structure 94

Indicators 95
Table: BMI's Oil & Gas Upstream Ratings - Methodology 95
Table: BMI's Oil & Gas Business Environment Downstream Ratings - Methodology 96

BMI Methodology 97

How We Generate Our Industry Forecasts 97

Energy Industry 97

Cross checks 98

Sources 98

Company Profiles
China National Petroleum Corporation (CNPC) - Summary
Royal Dutch Shell - Summary
Addax Petroleum - Summary
Genel Energy - Summary
RAK/DNO International - Summary
Heritage Oil - Summary
Gulf Keystone Petroleum - Summary
BP - Summary
Kogas - Summary
Eni - Summary
ExxonMobil - Summary
Lukoil - Summary
Statoil - Summary
Gazprom Neft - Summary
MOL - Summary
Chevron - Summary
Total - Summary
Pearl Petroleum - Summary
Türkiye Petrolleri Anonim Ortakligi (TPAO) - Summary
Marathon Oil - Summary
Murphy Oil - Summary
Repsol - Summary
Others - Summary
Oil Services Companies - Summary

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