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United Arab Emirates Oil and Gas Report Q1 2013 - Product Image

United Arab Emirates Oil and Gas Report Q1 2013

  • Published: January 2013
  • Region: United Arab Emirates
  • 90 pages
  • Business Monitor International

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BMI View:
The UAE continues to take advantage of reduced Iranian volumes to sustain relatively high crude output of around 2.7mn b/d. Including condensates and NGLs, we estimate oil production in 2012 averaged 3.0mn b/d. On the back of efforts to increase recovery rates, we expect UAE production to rise to 3.2mn b/d by 2016. Gas production will also increase as more associated gas is captured and new projects such as the Shah field drive output to 68bcm by the end of our forecast period.

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

- With around 1mn barrels per day (b/d) of Iranian crude removed from the oil market due to sanctions, the UAE is one of the countries taking up the slack - taking advantage of investment in production capacity.

Output in mid-2012 averaged around 2.7mn b/d according the latest Independent Energy Agency (IEA)
and Energy Information Administration (EIA) data.

- Gas production will continue to grow, with projects such as the Umm Shaif-Habshan project and the Shah development boosting gas output to 67.6bn cubic metres (bcm) by 2016 and 7bcm by 2021.

- Despite growing gas volumes, READ MORE >

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

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